Medtronic PLC (NYSE:MDT) Upgraded to “Hold” at BidaskClub
Medtronic PLC (NYSE:MDT) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Friday.
A number of other equities analysts have also weighed in on the stock. Evercore ISI upped their target price on shares of Medtronic PLC from $88.00 to $88.50 and gave the stock an “outperform” rating in a research report on Wednesday, April 19th. Royal Bank Of Canada reaffirmed a “buy” rating and set 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 set a “neutral” rating and a $87.00 price target on the stock. Zacks Investment Research downgraded 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. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $89.84.
Medtronic PLC (NYSE:MDT) opened at 83.04 on Friday. The company has a 50-day moving average of $86.33 and a 200-day moving average of $82.81. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72. The stock has a market cap of $112.85 billion, a PE ratio of 28.73 and a beta of 1.02.
Medtronic PLC (NYSE:MDT) last issued 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. Medtronic PLC had a net margin of 13.56% and a return on equity of 12.72%. The firm had revenue of $7.92 billion during the quarter, compared to analyst estimates of $7.86 billion. During the same quarter in the prior year, the business earned $1.27 earnings per share. Medtronic PLC’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities analysts forecast that Medtronic PLC will post $4.81 EPS for the current fiscal year.
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In related news, Director Richard H. Anderson purchased 5,600 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were purchased at an average cost of $88.90 per share, for a total transaction of $497,840.00. Following the completion of the acquisition, the director now owns 71,910 shares in the company, valued at approximately $6,392,799. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Bryan C. Hanson sold 12,000 shares of the company’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $88.57, for a total transaction of $1,062,840.00. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of MDT. BKD Wealth Advisors LLC bought a new position in Medtronic PLC during the first quarter worth approximately $552,000. Private Bank & Trust Co. boosted its position in Medtronic PLC by 23.3% in the first quarter. Private Bank & Trust Co. now owns 4,695 shares of the medical technology company’s stock worth $379,000 after buying an additional 887 shares during the last quarter. Prospera Financial Services Inc boosted its position in Medtronic PLC by 1.8% in the first quarter. Prospera Financial Services Inc now owns 5,279 shares of the medical technology company’s stock worth $425,000 after buying an additional 93 shares during the last quarter. TNB Financial bought a new position in Medtronic PLC during the first quarter worth approximately $436,000. Finally, Bremer Trust National Association boosted its position in Medtronic PLC by 11.3% in the first quarter. Bremer Trust National Association now owns 4,108 shares of the medical technology company’s stock worth $331,000 after buying an additional 418 shares during the last quarter. Hedge funds and other institutional investors own 83.36% 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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