Medtronic PLC (MDT) Given Hold Rating at Northland Securities
Northland Securities reiterated their hold rating on shares of Medtronic PLC (NYSE:MDT) in a report issued on Wednesday morning. The firm currently has a $80.00 target price on the medical technology company’s stock.
MDT has been the topic of several other research reports. Jefferies Group LLC restated a buy rating and set a $96.00 target price on shares of Medtronic PLC in a report on Thursday, September 28th. SunTrust Banks, Inc. restated a buy rating and set a $96.00 target price on shares of Medtronic PLC in a report on Monday, October 2nd. Zacks Investment Research cut Medtronic PLC from a hold rating to a sell rating in a report on Friday, August 25th. Cowen and Company set a $95.00 target price on Medtronic PLC and gave the stock a buy rating in a report on Tuesday, August 22nd. Finally, Stifel Nicolaus decreased their target price on Medtronic PLC from $91.00 to $83.00 and set a hold rating on the stock in a report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $87.88.
Shares of Medtronic PLC (NYSE:MDT) traded down $0.32 during trading hours on Wednesday, reaching $82.34. The company’s stock had a trading volume of 5,275,257 shares, compared to its average volume of 4,935,842. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72. The company has a market capitalization of $111,970.49, a PE ratio of 17.82, a price-to-earnings-growth ratio of 2.18 and a beta of 1.00. The company has a quick ratio of 1.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.50.
Medtronic PLC (NYSE:MDT) last announced its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.99 by $0.08. The company had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $7.05 billion. Medtronic PLC had a return on equity of 12.63% and a net margin of 16.93%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.12 earnings per share. equities research analysts forecast that Medtronic PLC will post 4.78 earnings per share for the current fiscal year.
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In related news, CEO Omar Ishrak sold 140,407 shares of the 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 completion of the transaction, the chief executive officer now directly owns 668,503 shares in the company, valued at $54,569,899.89. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction dated 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. Over the last quarter, insiders have sold 172,407 shares of company stock valued at $13,974,223. 0.31% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. Crestwood Advisors Group LLC grew its stake in Medtronic PLC by 1.7% in the third quarter. Crestwood Advisors Group LLC now owns 251,995 shares of the medical technology company’s stock valued at $19,598,000 after purchasing an additional 4,275 shares in the last quarter. GSA Capital Partners LLP grew its stake in Medtronic PLC by 468.3% in the third quarter. GSA Capital Partners LLP now owns 41,130 shares of the medical technology company’s stock valued at $3,199,000 after purchasing an additional 33,893 shares in the last quarter. Gofen & Glossberg LLC IL grew its stake in Medtronic PLC by 9.2% in the third quarter. Gofen & Glossberg LLC IL now owns 7,599 shares of the medical technology company’s stock valued at $591,000 after purchasing an additional 642 shares in the last quarter. Moors & Cabot Inc. grew its stake in Medtronic PLC by 10.2% in the third quarter. Moors & Cabot Inc. now owns 47,640 shares of the medical technology company’s stock valued at $3,721,000 after purchasing an additional 4,413 shares in the last quarter. Finally, Cetera Advisor Networks LLC grew its stake in Medtronic PLC by 3.2% in the third quarter. Cetera Advisor Networks LLC now owns 22,171 shares of the medical technology company’s stock valued at $1,731,000 after purchasing an additional 683 shares in the last quarter. Institutional investors and hedge funds own 81.14% of the company’s stock.
About Medtronic PLC
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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