Medtronic (NYSE:MDT) had its price objective boosted by Barclays from $104.00 to $110.00 in a report issued on Thursday morning, The Fly reports. Barclays currently has an overweight rating on the medical technology company’s stock.
Several other research analysts have also commented on the company. UBS Group lowered their price target on Broadcom from $325.00 to $310.00 and set a buy rating for the company in a research report on Friday, June 14th. Wells Fargo & Co upgraded Medtronic from a market perform rating to an outperform rating and raised their price target for the stock from $100.00 to $110.00 in a research report on Tuesday, June 4th. Needham & Company LLC restated a buy rating and set a $121.00 price target on shares of Medtronic in a research report on Monday, May 27th. Royal Bank of Canada lowered their price target on Medtronic to $100.00 and set an outperform rating for the company in a research report on Tuesday, May 28th. Finally, Northland Securities initiated coverage on THUNDER BRDG AC/SH SH in a research report on Thursday, June 20th. They set an outperform rating for the company. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Medtronic currently has an average rating of Buy and a consensus target price of $105.76.
MDT opened at $99.25 on Thursday. Medtronic has a 52 week low of $81.66 and a 52 week high of $100.15. The stock’s fifty day moving average price is $96.75. The stock has a market capitalization of $133.11 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 2.54 and a beta of 0.68. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.15 and a current ratio of 2.59.
Medtronic (NYSE:MDT) last released its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.47 by $0.07. Medtronic had a return on equity of 14.16% and a net margin of 15.15%. The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.12 billion. During the same period last year, the business posted $1.42 earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis. Research analysts expect that Medtronic will post 5.47 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Monday, July 8th will be issued a $0.54 dividend. The ex-dividend date is Friday, July 5th. This is a positive change from Medtronic’s previous quarterly dividend of $0.50. This represents a $2.16 dividend on an annualized basis and a yield of 2.18%. Medtronic’s dividend payout ratio (DPR) is 41.38%.
In related news, SVP Carol A. Surface sold 9,000 shares of Medtronic stock in a transaction on Monday, June 17th. The stock was sold at an average price of $97.66, for a total value of $878,940.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Hooman Hakami sold 52,664 shares of Medtronic stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $97.49, for a total value of $5,134,213.36. Following the completion of the transaction, the executive vice president now owns 95,337 shares of the company’s stock, valued at $9,294,404.13. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,664 shares of company stock valued at $7,896,623. 0.28% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Comerica Securities Inc. lifted its holdings in Medtronic by 3.8% during the 4th quarter. Comerica Securities Inc. now owns 13,521 shares of the medical technology company’s stock worth $1,237,000 after buying an additional 491 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in Medtronic during the 4th quarter worth about $128,000. Vontobel Swiss Wealth Advisors AG lifted its holdings in Medtronic by 59.0% during the 4th quarter. Vontobel Swiss Wealth Advisors AG now owns 34,908 shares of the medical technology company’s stock worth $3,129,000 after buying an additional 12,955 shares during the last quarter. Vantage Financial Partners Ltd. Inc. lifted its holdings in Medtronic by 10.3% during the 4th quarter. Vantage Financial Partners Ltd. Inc. now owns 6,400 shares of the medical technology company’s stock worth $582,000 after buying an additional 600 shares during the last quarter. Finally, Gilbert & Cook Inc. lifted its holdings in Medtronic by 6.6% during the 4th quarter. Gilbert & Cook Inc. now owns 2,251 shares of the medical technology company’s stock worth $205,000 after buying an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.
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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