Several analysts have recently updated their ratings and price targets for Medtronic PLC (NYSE: MDT):

  • 9/6/2017 – Medtronic PLC was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Apart from displaying successful integration and achievement of synergy targets, Medtronic’s major business groups continue to contribute to top-line growth which highlighted sustainability across all segments and geographies. Recently, the company announced the receipt of CE Mark for Attain Stability Quad MRI SureScan Active-Fixation heart lead. The stabilizing trend in the global Cardiac Rhythm & Heart Failure (CRHF) market is another upside. We are also encouraged by the solid growth trend, continuing in the U.S. as well as the healthy global acceptance of its advanced therapies. However, over the last three months, Medtronic has been observed to underperform the broader industry. We note that, escalating costs and expenses are weighing on margins. Also, unfavorable foreign exchange continues to remain a drag.”
  • 8/26/2017 – Medtronic PLC was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 8/25/2017 – Medtronic PLC was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Medtronic exited the fiscal first quarter on a mixed note. Although earnings exceeded the Zacks Consensus Estimate, revenues lagged the same. Over the last three months, Medtronic has been observed to underperform the broader industry. Moreover, escalating costs and expenses are weighing on margins. Also, unfavorable foreign exchange continues to remain a drag. On a positive note, apart from displaying successful integration and achievement of synergy targets, Medtronic’s major business groups continue to contribute to top-line growth which highlighted sustainability across all segments and geographies. Recently, the company announced the receipt of CE Mark for Attain Stability Quad MRI SureScan Active-Fixation heart lead. We are also encouraged by the solid growth trend, continuing in the U.S. as well as the healthy global acceptance of its advanced therapies.”
  • 8/24/2017 – Medtronic PLC had its “overweight” rating reaffirmed by analysts at UBS AG.
  • 8/23/2017 – Medtronic PLC had its “outperform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $92.00 price target on the stock, down previously from $94.00.
  • 8/23/2017 – Medtronic PLC had its price target lowered by analysts at Barclays PLC from $94.00 to $92.00. They now have an “overweight” rating on the stock.
  • 8/23/2017 – Medtronic PLC had its price target lowered by analysts at Jefferies Group LLC from $103.00 to $96.00. They now have a “buy” rating on the stock.
  • 8/22/2017 – Medtronic PLC had its “buy” rating reaffirmed by analysts at Oppenheimer Holdings, Inc.. They now have a $92.00 price target on the stock.
  • 8/22/2017 – Medtronic PLC was given a new $95.00 price target on by analysts at Cowen and Company. They now have a “buy” rating on the stock.
  • 8/21/2017 – Medtronic PLC had its “buy” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $90.00 price target on the stock.
  • 8/11/2017 – Medtronic PLC was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 8/5/2017 – Medtronic PLC was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 8/3/2017 – Medtronic PLC had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $103.00 price target on the stock.
  • 7/31/2017 – Medtronic PLC was given a new $96.00 price target on by analysts at Deutsche Bank AG. They now have a “buy” rating on the stock.
  • 7/31/2017 – Medtronic PLC was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Over the last three months, Medtronic has been observed to outperform the broader industry. All of its major business groups continue to contribute to solid top-line growth which highlighted sustainability across groups and regions, in addition to displaying successful integration and achievement of synergy targets. We are also encouraged by the solid growth trend, continuing in the U.S. as well as the healthy global acceptance of its advanced therapies. Apart from product innovation, Medtronic is focusing on geographical diversification of business. An impressive fiscal 2018 guidance also indicates continuance of this strong run going ahead. The company's last reported fourth quarter fiscal 2017 earnings were also impressive. Yet, escalating costs and expenses are weighing on margins. Also, unfavorable foreign exchange continues to remain a drag.”
  • 7/24/2017 – Medtronic PLC was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 7/18/2017 – Medtronic PLC had its “buy” rating reaffirmed by analysts at Oppenheimer Holdings, Inc..

Shares of Medtronic PLC (NYSE MDT) traded down 0.433% on Monday, reaching $81.675. The company’s stock had a trading volume of 2,894,359 shares. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72. The stock has a 50-day moving average price of $82.58 and a 200-day moving average price of $83.65. The company has a market capitalization of $111.23 billion, a price-to-earnings ratio of 27.491 and a beta of 1.03.

Medtronic PLC (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.04. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The firm had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.44 billion. During the same quarter in the prior year, the firm posted $1.03 earnings per share. Medtronic PLC’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities research analysts forecast that Medtronic PLC will post $4.77 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.24%. The ex-dividend date is Thursday, September 28th. Medtronic PLC’s payout ratio is currently 61.95%.

In other news, Director Richard H. Anderson acquired 5,600 shares of the business’s stock in a transaction on Wednesday, June 21st. The shares were purchased at an average price of $88.90 per share, for a total transaction of $497,840.00. Following the completion of the purchase, the director now directly owns 71,910 shares of the company’s stock, valued at approximately $6,392,799. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bryan C. Hanson sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $88.57, for a total value of $1,062,840.00. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Medtronic Public Limited Company (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.

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