Medtronic PLC (NYSE:MDT) Receives Average Recommendation of “Buy” from Analysts

Medtronic PLC (NYSE:MDT) has been given an average recommendation of “Buy” by the twenty-two brokerages that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $117.35.

Several brokerages recently commented on MDT. Raymond James upped their price target on shares of Medtronic from $105.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. Barclays boosted their target price on shares of Medtronic from $110.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Bank of America set a $118.00 target price on shares of Medtronic and gave the company a “buy” rating in a research note on Wednesday, August 21st. Piper Jaffray Companies increased their target price on Medtronic to $125.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $133.00 target price on shares of Medtronic in a research report on Wednesday, August 28th.

In other news, EVP Robert John White sold 52,166 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $110.62, for a total transaction of $5,770,602.92. Following the completion of the sale, the executive vice president now directly owns 77,510 shares of the company’s stock, valued at approximately $8,574,156.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Hooman Hakami sold 82,877 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $107.31, for a total value of $8,893,530.87. Following the sale, the executive vice president now directly owns 30,761 shares of the company’s stock, valued at $3,300,962.91. The disclosure for this sale can be found here. Insiders sold 210,735 shares of company stock worth $22,901,472 over the last ninety days. 0.28% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Private Ocean LLC boosted its position in Medtronic by 188.5% during the third quarter. Private Ocean LLC now owns 225 shares of the medical technology company’s stock worth $25,000 after purchasing an additional 147 shares during the period. Krane Funds Advisors LLC acquired a new stake in shares of Medtronic in the second quarter worth $25,000. River & Mercantile Asset Management LLP bought a new stake in shares of Medtronic during the 2nd quarter worth $26,000. Lenox Wealth Advisors LLC boosted its holdings in shares of Medtronic by 393.3% during the 3rd quarter. Lenox Wealth Advisors LLC now owns 296 shares of the medical technology company’s stock worth $32,000 after buying an additional 236 shares during the period. Finally, Redhawk Wealth Advisors Inc. acquired a new position in Medtronic in the 2nd quarter valued at $34,000. Hedge funds and other institutional investors own 80.61% of the company’s stock.

NYSE MDT traded up $0.96 on Friday, hitting $113.16. 2,106,382 shares of the company were exchanged, compared to its average volume of 5,060,565. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.77 and a quick ratio of 2.28. Medtronic has a twelve month low of $81.66 and a twelve month high of $114.46. The firm has a market capitalization of $150.77 billion, a P/E ratio of 21.68, a price-to-earnings-growth ratio of 2.70 and a beta of 0.60. The company’s 50 day moving average price is $109.05 and its 200-day moving average price is $103.71.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.03. The business had revenue of $7.71 billion for the quarter, compared to the consensus estimate of $7.66 billion. Medtronic had a net margin of 15.11% and a return on equity of 14.52%. During the same period last year, the firm posted $1.22 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities analysts expect that Medtronic will post 5.6 EPS for the current year.

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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