Media coverage about Medtronic (NYSE:MDT) has trended somewhat positive this week, according to Accern Sentiment. The research firm identifies positive and negative press coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Medtronic earned a daily sentiment score of 0.13 on Accern’s scale. Accern also gave media coverage about the medical technology company an impact score of 45.6510597421024 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
These are some of the news headlines that may have effected Accern’s scoring:
- Medtronic PLC (MDT) Given Consensus Rating of “Buy” by Analysts (americanbankingnews.com)
- Appeals court deals Medtronic blow in $1.4B dispute with IRS (bizjournals.com)
- Appeals court shoots down Medtronic win in IRS feud (massdevice.com)
- Will Medtronic (MDT) Q1 Earnings Show Overall Progress? (finance.yahoo.com)
- Medtronic plc’s (NYSE:MDT) Insiders Just Sold Shares – Should You? (finance.yahoo.com)
A number of equities research analysts have recently issued reports on MDT shares. Needham & Company LLC upgraded Medtronic from a “buy” rating to a “strong-buy” rating and increased their target price for the company from $103.00 to $119.00 in a research note on Monday, August 13th. Zacks Investment Research lowered Medtronic from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. William Blair started coverage on Medtronic in a research note on Wednesday, June 6th. They set a “market perform” rating for the company. Raymond James started coverage on Medtronic in a research note on Thursday, May 31st. They set an “outperform” rating and a $96.00 price objective for the company. Finally, Morgan Stanley raised their price objective on Medtronic from $90.00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday, May 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $93.24.
Shares of NYSE MDT opened at $90.60 on Monday. The company has a market capitalization of $122.46 billion, a P/E ratio of 18.99, a P/E/G ratio of 2.46 and a beta of 0.94. Medtronic has a 12-month low of $76.41 and a 12-month high of $91.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.92 and a current ratio of 2.28.
Medtronic (NYSE:MDT) last announced its quarterly earnings results on Thursday, May 24th. The medical technology company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. The business had revenue of $8.14 billion for the quarter, compared to the consensus estimate of $8 billion. Medtronic had a return on equity of 12.84% and a net margin of 10.36%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $1.33 EPS. research analysts forecast that Medtronic will post 5.11 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 25th. Investors of record on Friday, July 6th were issued a $0.50 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, July 5th. This represents a $2.00 annualized dividend and a dividend yield of 2.21%. Medtronic’s dividend payout ratio (DPR) is 41.93%.
In related news, SVP Bradley E. Lerman sold 8,910 shares of the firm’s stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $86.82, for a total value of $773,566.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Richard Kuntz sold 11,500 shares of the firm’s stock in a transaction that occurred on Friday, June 8th. The stock was sold at an average price of $87.13, for a total value of $1,001,995.00. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.
Medtronic Company Profile
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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