Shares of Medtronic PLC (NYSE:MDT) have been assigned a consensus recommendation of “Buy” from the twenty-one ratings firms that are currently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $114.63.
Several equities analysts have commented on the stock. BMO Capital Markets increased their price objective on shares of Medtronic from $107.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. ValuEngine lowered shares of Medtronic from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Bank of America set a $118.00 target price on shares of Medtronic and gave the stock a “buy” rating in a report on Wednesday, August 21st. Morgan Stanley raised their target price on shares of Medtronic from $105.00 to $111.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 21st. Finally, Barclays raised their target price on shares of Medtronic from $110.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st.
MDT stock traded up $0.17 during trading on Friday, hitting $111.18. 6,978,651 shares of the company’s stock traded hands, compared to its average volume of 4,340,139. Medtronic has a 52 week low of $81.66 and a 52 week high of $111.73. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.20 and a current ratio of 2.67. The business has a fifty day simple moving average of $105.83 and a 200 day simple moving average of $96.38. The stock has a market capitalization of $148.94 billion, a price-to-earnings ratio of 21.30, a P/E/G ratio of 2.73 and a beta of 0.65.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, September 27th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $2.16 annualized dividend and a dividend yield of 1.94%. Medtronic’s dividend payout ratio (DPR) is presently 41.38%.
In related news, SVP Bradley E. Lerman sold 6,599 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $102.02, for a total value of $673,229.98. Following the transaction, the senior vice president now owns 105,960 shares of the company’s stock, valued at approximately $10,810,039.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Hooman Hakami sold 82,877 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $107.31, for a total transaction of $8,893,530.87. Following the completion of the transaction, the executive vice president now directly owns 30,761 shares in the company, valued at approximately $3,300,962.91. The disclosure for this sale can be found here. Insiders sold a total of 96,914 shares of company stock valued at $10,315,651 in the last 90 days. Company insiders own 0.28% of the company’s stock.
A number of hedge funds have recently bought and sold shares of MDT. Nuveen Asset Management LLC increased its stake in Medtronic by 12,846.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 8,157,866 shares of the medical technology company’s stock worth $794,495,000 after buying an additional 8,094,852 shares during the period. BlackRock Inc. increased its stake in Medtronic by 7.9% in the 1st quarter. BlackRock Inc. now owns 106,778,084 shares of the medical technology company’s stock worth $9,725,349,000 after buying an additional 7,856,946 shares during the period. Longview Partners Guernsey LTD increased its stake in Medtronic by 46.0% in the 2nd quarter. Longview Partners Guernsey LTD now owns 8,843,721 shares of the medical technology company’s stock worth $861,290,000 after buying an additional 2,787,443 shares during the period. Nordea Investment Management AB increased its stake in Medtronic by 35.4% in the 1st quarter. Nordea Investment Management AB now owns 8,622,525 shares of the medical technology company’s stock worth $785,336,000 after buying an additional 2,255,412 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Medtronic in the 2nd quarter worth about $214,895,000. 81.03% of the stock is currently owned by institutional investors.
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
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