Medtronic PLC’s (MDT) Buy Rating Reaffirmed at Jefferies Group LLC
Medtronic PLC (NYSE:MDT)‘s stock had its “buy” rating reaffirmed by stock analysts at Jefferies Group LLC in a research note issued on Thursday. They presently have a $96.00 price objective on the medical technology company’s stock. Jefferies Group LLC’s price target suggests a potential upside of 23.33% from the stock’s current price.
A number of other equities research analysts have also recently commented on the company. Zacks Investment Research cut Medtronic PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. BMO Capital Markets reaffirmed an “outperform” rating and set a $92.00 price objective (down from $94.00) on shares of Medtronic PLC in a research note on Wednesday, August 23rd. BidaskClub cut Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Barclays PLC decreased their price objective on Medtronic PLC from $94.00 to $92.00 and set an “overweight” rating for the company in a research note on Wednesday, August 23rd. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Medtronic PLC in a research note on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $88.78.
Medtronic PLC (NYSE MDT) opened at 77.84 on Thursday. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72. The firm has a market cap of $105.44 billion, a price-to-earnings ratio of 26.20 and a beta of 1.03. The company has a 50 day moving average price of $82.04 and a 200-day moving average price of $83.67.
Medtronic PLC (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The business had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.44 billion. During the same period in the previous year, the firm earned $1.03 earnings per share. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. Equities research analysts anticipate that Medtronic PLC will post $4.77 EPS for the current year.
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In related news, CEO Omar Ishrak sold 140,407 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the sale, the chief executive officer now owns 668,503 shares in the company, valued at $54,569,899.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bryan C. Hanson sold 12,000 shares of the company’s stock in a transaction dated Monday, July 17th. The stock was 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. 0.31% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust raised its holdings in Medtronic PLC by 22.4% during the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock worth $102,000 after acquiring an additional 210 shares in the last quarter. BDO Wealth Advisors LLC bought a new stake in Medtronic PLC during the second quarter worth about $103,000. Motco raised its holdings in Medtronic PLC by 8.7% during the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after acquiring an additional 99 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Medtronic PLC by 21.5% during the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after acquiring an additional 290 shares in the last quarter. Finally, Israel Discount Bank of New York bought a new stake in Medtronic PLC during the first quarter worth about $117,000. Institutional investors and hedge funds own 80.63% of the company’s stock.
Medtronic PLC Company Profile
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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