Medtronic plc. (NYSE:MDT) had its price objective increased by Evercore ISI from $88.00 to $88.50 in a note issued to investors on Wednesday. The firm currently has an “outperform” rating on the medical technology company’s stock. Evercore ISI’s price target indicates a potential upside of 9.23% from the stock’s current price.
Other analysts also recently issued research reports about the stock. Needham & Company LLC reissued a “buy” rating and issued a $84.00 price target on shares of Medtronic plc. in a research report on Monday, February 6th. Vetr downgraded shares of Medtronic plc. from a “strong-buy” rating to a “buy” rating and set a $81.00 price target for the company. in a research report on Monday, January 23rd. Deutsche Bank AG set a $96.00 price target on shares of Medtronic plc. and gave the company a “buy” rating in a research report on Sunday, January 8th. Jefferies Group LLC reissued a “buy” rating and issued a $88.00 price target on shares of Medtronic plc. in a research report on Friday, February 17th. Finally, Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Medtronic plc. in a research report on Wednesday, March 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $87.17.
Shares of Medtronic plc. (NYSE:MDT) traded up 0.87% on Wednesday, reaching $81.02. 5,323,991 shares of the company were exchanged. The company’s 50-day moving average price is $81.25 and its 200 day moving average price is $78.51. Medtronic plc. has a 12 month low of $69.35 and a 12 month high of $89.27. The company has a market cap of $110.91 billion, a price-to-earnings ratio of 28.60 and a beta of 0.97.
Medtronic plc. (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 21st. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.01. Medtronic plc. had a net margin of 14.63% and a return on equity of 12.36%. The business earned $7.28 billion during the quarter, compared to the consensus estimate of $7.22 billion. During the same quarter last year, the firm posted $1.06 EPS. Medtronic plc.’s revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts expect that Medtronic plc. will post $4.58 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 13th. Investors of record on Friday, March 24th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Wednesday, March 22nd. Medtronic plc.’s dividend payout ratio is currently 57.14%.
In related news, CEO Omar Ishrak sold 95,000 shares of the business’s stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $82.82, for a total value of $7,867,900.00. Following the sale, the chief executive officer now directly owns 645,616 shares in the company, valued at approximately $53,469,917.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Hoedt Rob Ten sold 50,757 shares of the business’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $81.58, for a total value of $4,140,756.06. Following the completion of the sale, the executive vice president now owns 59,392 shares in the company, valued at $4,845,199.36. The disclosure for this sale can be found here. Insiders sold a total of 198,073 shares of company stock worth $16,315,832 over the last 90 days. 0.25% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in MDT. Motco boosted its stake in shares of Medtronic plc. by 70.9% in the third quarter. Motco now owns 1,350 shares of the medical technology company’s stock worth $117,000 after buying an additional 560 shares in the last quarter. TLP Group LLC purchased a new stake in shares of Medtronic plc. during the third quarter worth about $124,000. Sunbelt Securities Inc. purchased a new stake in shares of Medtronic plc. during the fourth quarter worth about $105,000. Birch Hill Investment Advisors LLC purchased a new stake in shares of Medtronic plc. during the third quarter worth about $128,000. Finally, Proficio Capital Partners LLC boosted its stake in shares of Medtronic plc. by 0.5% in the third quarter. Proficio Capital Partners LLC now owns 1,505 shares of the medical technology company’s stock valued at $130,000 after buying an additional 8 shares in the last quarter. Institutional investors and hedge funds own 82.71% of the company’s stock.
Medtronic plc. Company Profile
Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.
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