Medtronic PLC (MDT) Given Consensus Recommendation of “Buy” by Analysts

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Shares of Medtronic PLC (NYSE:MDT) have received a consensus rating of “Buy” from the twenty-five brokerages that are currently covering the company, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $104.14.

Several analysts have commented on the company. Zacks Investment Research upgraded Medtronic from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a report on Tuesday, October 23rd. Oppenheimer restated a “buy” rating and issued a $104.00 price target on shares of Medtronic in a report on Tuesday, November 20th. Barclays reduced their price objective on Medtronic from $113.00 to $104.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 8th. BTIG Research raised Medtronic from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Tuesday, January 15th. Finally, Royal Bank of Canada lifted their price objective on Medtronic to $109.00 and gave the company an “outperform” rating in a research note on Wednesday, October 3rd.

In related news, CFO Karen L. Parkhill purchased 3,000 shares of Medtronic stock in a transaction that occurred on Wednesday, January 9th. The shares were purchased at an average cost of $83.87 per share, with a total value of $251,610.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Omar Ishrak purchased 12,000 shares of Medtronic stock in a transaction that occurred on Wednesday, January 9th. The shares were bought at an average cost of $84.05 per share, for a total transaction of $1,008,600.00. The disclosure for this purchase can be found here. Insiders own 0.28% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Highwater Wealth Management LLC bought a new stake in shares of Medtronic in the 4th quarter valued at approximately $39,000. IMS Capital Management bought a new stake in shares of Medtronic in the 3rd quarter valued at approximately $41,000. Contravisory Investment Management Inc. increased its holdings in shares of Medtronic by 220.0% in the 4th quarter. Contravisory Investment Management Inc. now owns 480 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 330 shares during the last quarter. Legacy Financial Advisors Inc. increased its holdings in shares of Medtronic by 109.4% in the 4th quarter. Legacy Financial Advisors Inc. now owns 888 shares of the medical technology company’s stock valued at $81,000 after acquiring an additional 464 shares during the last quarter. Finally, Cornerstone Advisors Inc. increased its holdings in shares of Medtronic by 12.2% in the 3rd quarter. Cornerstone Advisors Inc. now owns 1,165 shares of the medical technology company’s stock valued at $115,000 after acquiring an additional 127 shares during the last quarter. 80.76% of the stock is currently owned by institutional investors.

Medtronic stock traded down $0.30 during midday trading on Tuesday, reaching $87.30. 8,545,440 shares of the company were exchanged, compared to its average volume of 6,510,194. The stock has a market cap of $117.25 billion, a PE ratio of 18.30, a P/E/G ratio of 2.28 and a beta of 0.93. Medtronic has a 1 year low of $76.41 and a 1 year high of $100.15. The company has a current ratio of 2.56, a quick ratio of 2.11 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 20th. The medical technology company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.07. The firm had revenue of $7.48 billion during the quarter, compared to analysts’ expectations of $7.35 billion. Medtronic had a return on equity of 13.51% and a net margin of 7.44%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 EPS. On average, equities analysts predict that Medtronic will post 5.13 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, January 18th. Investors of record on Friday, December 28th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Thursday, December 27th. Medtronic’s dividend payout ratio (DPR) is presently 41.93%.

About Medtronic

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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Analyst Recommendations for Medtronic (NYSE:MDT)

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