Medtronic PLC (NYSE:MDT) was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday. The firm currently has a $91.28 price target on the medical technology company’s stock. Vetr‘s target price would suggest a potential upside of 12.84% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Deutsche Bank AG reissued a “buy” rating on shares of Medtronic PLC in a research report on Monday, October 31st. Zacks Investment Research raised shares of Medtronic PLC from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research report on Wednesday, October 26th. Credit Suisse Group AG reissued an “outperform” rating and set a $92.00 price target on shares of Medtronic PLC in a research report on Thursday, August 25th. Cowen and Company set a $94.00 price target on shares of Medtronic PLC and gave the stock a “buy” rating in a research report on Tuesday, August 23rd. Finally, Citigroup Inc. initiated coverage on shares of Medtronic PLC in a research report on Tuesday, August 23rd. They set a “buy” rating and a $102.00 price target on the stock. Six research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Medtronic PLC currently has an average rating of “Buy” and an average price target of $90.04.

Analyst Recommendations for Medtronic PLC (NYSE:MDT)

Medtronic PLC (NYSE:MDT) opened at 80.89 on Tuesday. The firm has a market capitalization of $111.78 billion, a P/E ratio of 31.47 and a beta of 1.01. Medtronic PLC has a 52-week low of $71.03 and a 52-week high of $89.27. The firm’s 50-day moving average is $83.32 and its 200 day moving average is $84.74.

Medtronic PLC (NYSE:MDT) last announced its quarterly earnings data on Thursday, August 25th. The medical technology company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.02. Medtronic PLC had a net margin of 12.70% and a return on equity of 12.06%. The firm had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same period last year, the firm earned $1.02 earnings per share. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities analysts anticipate that Medtronic PLC will post $4.66 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 21st. Investors of record on Thursday, September 29th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.13%. The ex-dividend date was Tuesday, September 27th. Medtronic PLC’s dividend payout ratio is 66.93%.

In other Medtronic PLC news, VP Richard Kuntz sold 17,141 shares of the stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of $86.70, for a total transaction of $1,486,124.70. Following the completion of the sale, the vice president now directly owns 149,425 shares of the company’s stock, valued at approximately $12,955,147.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Bryan C. Hanson sold 15,000 shares of the stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $87.00, for a total transaction of $1,305,000.00. Following the sale, the executive vice president now directly owns 168,192 shares of the company’s stock, valued at $14,632,704. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Beach Investment Counsel Inc. PA raised its stake in shares of Medtronic PLC by 2.0% in the second quarter. Beach Investment Counsel Inc. PA now owns 282,436 shares of the medical technology company’s stock worth $24,507,000 after buying an additional 5,510 shares during the period. Huntington National Bank raised its stake in shares of Medtronic PLC by 10.9% in the second quarter. Huntington National Bank now owns 227,847 shares of the medical technology company’s stock worth $19,769,000 after buying an additional 22,309 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Medtronic PLC by 5.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 123,450 shares of the medical technology company’s stock worth $10,713,000 after buying an additional 5,980 shares during the period. Clarkston Capital Partners LLC raised its stake in shares of Medtronic PLC by 3.3% in the second quarter. Clarkston Capital Partners LLC now owns 120,828 shares of the medical technology company’s stock worth $10,484,000 after buying an additional 3,840 shares during the period. Finally, Montag & Caldwell LLC raised its stake in shares of Medtronic PLC by 16.3% in the second quarter. Montag & Caldwell LLC now owns 2,318,700 shares of the medical technology company’s stock worth $201,194,000 after buying an additional 324,802 shares during the period. 82.21% of the stock is owned by institutional investors and hedge funds.

Medtronic PLC Company Profile

Medtronic plc (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.

5 Day Chart for NYSE:MDT

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