MDT has been the topic of several other reports. Sanford C. Bernstein began coverage on Medtronic in a report on Wednesday, June 27th. They set a market perform rating and a $88.00 price target on the stock. SunTrust Banks increased their price target on Medtronic to $96.00 and gave the company a buy rating in a report on Monday, May 21st. William Blair began coverage on Medtronic in a report on Wednesday, June 6th. They issued a market perform rating on the stock. TheStreet raised Medtronic from a c+ rating to a b- rating in a report on Monday, May 21st. Finally, Raymond James began coverage on Medtronic in a report on Thursday, May 31st. They issued an outperform rating and a $96.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Medtronic currently has an average rating of Buy and a consensus target price of $93.24.
NYSE MDT opened at $95.17 on Tuesday. The firm has a market cap of $122.46 billion, a PE ratio of 18.95, a PEG ratio of 2.46 and a beta of 0.94. The company has a current ratio of 2.28, a quick ratio of 1.92 and a debt-to-equity ratio of 0.47. Medtronic has a 1-year low of $76.41 and a 1-year high of $95.79.
Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 21st. The medical technology company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.06. The firm had revenue of $7.38 billion for the quarter, compared to analysts’ expectations of $7.24 billion. Medtronic had a return on equity of 12.84% and a net margin of 10.36%. The company’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.12 EPS. analysts forecast that Medtronic will post 5.11 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 25th. Shareholders of record on Friday, July 6th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Thursday, July 5th. This is a positive change from Medtronic’s previous quarterly dividend of $0.46. Medtronic’s dividend payout ratio is presently 41.93%.
In other Medtronic news, SVP Bradley E. Lerman sold 8,910 shares of the stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Richard Kuntz sold 11,500 shares of the stock in a transaction 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. Corporate insiders own 0.31% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its stake in Medtronic by 2.1% in the 2nd quarter. BlackRock Inc. now owns 97,867,667 shares of the medical technology company’s stock worth $8,378,448,000 after buying an additional 1,966,789 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in Medtronic by 4.2% in the 2nd quarter. Artisan Partners Limited Partnership now owns 23,443,933 shares of the medical technology company’s stock worth $2,007,035,000 after buying an additional 939,892 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Medtronic by 11.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 15,717,199 shares of the medical technology company’s stock worth $1,345,549,000 after buying an additional 1,589,932 shares in the last quarter. Wells Fargo & Company MN increased its stake in Medtronic by 5.9% in the 1st quarter. Wells Fargo & Company MN now owns 13,941,900 shares of the medical technology company’s stock worth $1,118,419,000 after buying an additional 782,123 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Medtronic by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,884,401 shares of the medical technology company’s stock worth $760,649,000 after buying an additional 394,973 shares in the last quarter. Institutional investors and hedge funds own 80.05% 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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