Shares of Medtronic PLC (NYSE:MDT) have been assigned an average recommendation of “Hold” from the twenty-six brokerages that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $87.53.

Several equities analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $94.00 price objective on shares of Medtronic PLC in a research report on Thursday, November 9th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $96.00 price objective on shares of Medtronic PLC in a research report on Friday, November 3rd. Cowen and Company reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Medtronic PLC in a research report on Friday, November 3rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $89.00 price objective (down from $92.00) on shares of Medtronic PLC in a research report on Tuesday, October 10th. Finally, Leerink Swann reaffirmed a “market perform” rating and issued a $85.00 price objective (down from $88.00) on shares of Medtronic PLC in a research report on Monday, October 9th.

Shares of Medtronic PLC (MDT) traded down $0.48 on Thursday, hitting $78.68. The stock had a trading volume of 4,145,300 shares, compared to its average volume of 4,886,359. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.40 and a current ratio of 1.64. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.72. The company has a market cap of $106,580.00, a PE ratio of 16.88, a P/E/G ratio of 2.16 and a beta of 1.00.

Medtronic PLC (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.04. The business had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.44 billion. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 EPS. sell-side analysts forecast that Medtronic PLC will post 4.7 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Friday, September 29th were paid a $0.46 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.84 dividend on an annualized basis and a yield of 2.34%. Medtronic PLC’s payout ratio is presently 61.95%.

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In other Medtronic PLC news, CEO Omar Ishrak sold 140,407 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $81.63, for a total value of $11,461,423.41. Following the completion of the sale, the chief executive officer now owns 668,503 shares in the company, valued at approximately $54,569,899.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction on Monday, October 16th. The stock was sold at an average price of $78.03, for a total value of $1,248,480.00. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

A number of hedge funds have recently modified their holdings of MDT. Covenant Multifamily Offices LLC increased its stake in Medtronic PLC by 17.0% in the 1st quarter. Covenant Multifamily Offices LLC now owns 51,671 shares of the medical technology company’s stock worth $4,163,000 after buying an additional 7,522 shares in the last quarter. Fernwood Investment Management LLC boosted its holdings in shares of Medtronic PLC by 1.0% during the 1st quarter. Fernwood Investment Management LLC now owns 15,873 shares of the medical technology company’s stock valued at $1,279,000 after purchasing an additional 150 shares during the last quarter. Aberdeen Asset Management PLC UK boosted its holdings in shares of Medtronic PLC by 6.4% during the 1st quarter. Aberdeen Asset Management PLC UK now owns 506,075 shares of the medical technology company’s stock valued at $40,770,000 after purchasing an additional 30,372 shares during the last quarter. Comgest Global Investors S.A.S. boosted its holdings in shares of Medtronic PLC by 0.5% during the 1st quarter. Comgest Global Investors S.A.S. now owns 876,320 shares of the medical technology company’s stock valued at $70,596,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Mcrae Capital Management Inc. boosted its holdings in shares of Medtronic PLC by 3.5% during the 1st quarter. Mcrae Capital Management Inc. now owns 113,794 shares of the medical technology company’s stock valued at $9,167,000 after purchasing an additional 3,855 shares during the last quarter. Institutional investors and hedge funds own 81.37% 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.

Analyst Recommendations for Medtronic PLC (NYSE:MDT)

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