Somewhat Positive Press Coverage Somewhat Unlikely to Impact Medtronic PLC (MDT) Share Price
News coverage about Medtronic PLC (NYSE:MDT) has been trending somewhat positive recently, according to Accern Sentiment. The research firm identifies positive and negative press coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Medtronic PLC earned a media sentiment score of 0.19 on Accern’s scale. Accern also gave headlines about the medical technology company an impact score of 46.9591323152002 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the headlines that may have effected Accern Sentiment’s analysis:
- Fidelity National Financial, Inc. (FNF) Stake Lowered by Morgan Stanley (trikkles.com)
- Medtronic plc. (NYSE:MDT) Investor Investigation over possible Violations of Securities Laws (openpr.com)
- Medtronic PLC (MDT) Shares Sold by Johnston Asset Management LLC (campdesrecrues.com)
- Medtronic PLC (NYSE:MDT) Given Consensus Rating of “Hold” by Brokerages (americanbankingnews.com)
- Medtronic PLC (NYSE:MDT) Expected to Announce Earnings of $1.08 Per Share (americanbankingnews.com)
Shares of Medtronic PLC (NYSE MDT) traded up 0.14% during trading on Wednesday, reaching $83.95. 3,519,268 shares of the company traded hands. The firm’s 50-day moving average is $87.24 and its 200-day moving average is $82.55. The stock has a market capitalization of $114.09 billion, a PE ratio of 29.05 and a beta of 1.02. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.72.
Medtronic PLC (NYSE:MDT) last released its earnings results on Thursday, May 25th. The medical technology company reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.02. The firm had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.86 billion. Medtronic PLC had a net margin of 13.56% and a return on equity of 12.72%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.27 EPS. On average, equities analysts predict that Medtronic PLC will post $4.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, July 7th were paid a $0.46 dividend. This is a boost from Medtronic PLC’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.84 dividend on an annualized basis and a yield of 2.19%. Medtronic PLC’s payout ratio is presently 63.67%.
A number of research analysts recently commented on MDT shares. Evercore ISI upped their price target on shares of Medtronic PLC from $88.00 to $88.50 and gave the company an “outperform” rating in a research note on Wednesday, April 19th. Royal Bank Of Canada reiterated a “buy” rating and issued a $85.00 price target on shares of Medtronic PLC in a research note on Tuesday, April 18th. Goldman Sachs Group, Inc. (The) started coverage on shares of Medtronic PLC in a research note on Tuesday, May 16th. They issued a “neutral” rating and a $87.00 price target on the stock. Zacks Investment Research lowered shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. Finally, BMO Capital Markets upped their price target on shares of Medtronic PLC from $87.00 to $94.00 and gave the company an “outperform” rating in a research note on Tuesday, May 30th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $89.84.
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In related news, EVP Bryan C. Hanson sold 12,000 shares of the company’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $88.57, for a total value of $1,062,840.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard H. Anderson purchased 5,600 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The stock was purchased at an average price of $88.90 per share, for a total transaction of $497,840.00. Following the purchase, the director now owns 71,910 shares in the company, valued at $6,392,799. The disclosure for this purchase can be found here. Insiders own 0.25% 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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