Somewhat Favorable Media Coverage Somewhat Likely to Affect Medtronic (MDT) Stock Price
Media stories about Medtronic (NYSE:MDT) have been trending somewhat positive this week, InfoTrie Sentiment Analysis reports. InfoTrie identifies positive and negative news coverage by reviewing more than 6,000 blog and news sources in real time. The firm ranks coverage of public companies on a scale of -5 to 5, with scores closest to five being the most favorable. Medtronic earned a daily sentiment score of 1.48 on their scale. InfoTrie also gave news coverage about the medical technology company an news buzz score of 6 out of 10, indicating that recent news coverage is somewhat likely to have an effect on the company’s share price in the near future.
These are some of the media stories that may have effected Medtronic’s ranking:
- Medtronic inks deal to acquire nutrition tech group Nutrino Health (massdevice.com)
- Medtronic (MDT) Price Target Cut to $104.00 by Analysts at Raymond James (americanbankingnews.com)
- Medtronic sets rosy outlook on strong cardiac, surgical product sales (reuters.com)
- Medtronic profit jumps 14 percent, and CEO Ishrak says future looks even better (startribune.com)
- Medtronic plc (MDT) Q2 2019 Earnings Conference Call Transcript (finance.yahoo.com)
NYSE MDT opened at $92.97 on Thursday. The company has a quick ratio of 2.06, a current ratio of 2.46 and a debt-to-equity ratio of 0.47. The firm has a market cap of $122.05 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 2.40 and a beta of 0.94. Medtronic has a 52 week low of $76.41 and a 52 week high of $100.15.
Several equities research analysts recently weighed in on the stock. Raymond James reduced their price target on shares of Medtronic from $105.00 to $104.00 and set an “outperform” rating on the stock in a research report on Wednesday. Oppenheimer restated a “buy” rating and issued a $104.00 price target on shares of Medtronic in a research report on Tuesday. Zacks Investment Research cut shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Friday, November 16th. Barclays assumed coverage on shares of Medtronic in a research report on Monday, October 15th. They issued an “overweight” rating and a $113.00 price target on the stock. Finally, Argus boosted their price target on shares of Medtronic from $108.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, October 8th. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $102.98.
In other Medtronic news, SVP Richard Kuntz sold 47,176 shares of Medtronic stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $95.88, for a total transaction of $4,523,234.88. Following the completion of the transaction, the senior vice president now directly owns 152,579 shares of the company’s stock, valued at $14,629,274.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Hooman Hakami sold 26,159 shares of Medtronic stock in a transaction on Friday, August 31st. The stock was sold at an average price of $96.29, for a total transaction of $2,518,850.11. Following the transaction, the executive vice president now directly owns 63,046 shares of the company’s stock, valued at $6,070,699.34. The disclosure for this sale can be found here. Insiders have sold 123,134 shares of company stock valued at $11,918,901 over the last ninety days. 0.28% of the stock is owned by insiders.
ILLEGAL ACTIVITY WARNING: This piece was originally published by Daily Political and is the property of of Daily Political. If you are viewing this piece on another publication, it was illegally copied and republished in violation of international copyright law. The legal version of this piece can be viewed at https://www.dailypolitical.com/2018/11/22/somewhat-favorable-media-coverage-somewhat-likely-to-affect-medtronic-mdt-stock-price.html.
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.
Further Reading: What is Depreciation?
Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.