MDT has been the topic of several other research reports. Bank of America upgraded Medtronic from a neutral rating to a buy rating in a research report on Tuesday, January 2nd. Royal Bank of Canada restated an outperform rating and issued a $92.00 price objective on shares of Medtronic in a research report on Wednesday, February 14th. Jefferies Group restated a buy rating and issued a $99.00 price objective on shares of Medtronic in a research report on Thursday, November 23rd. Citigroup restated a buy rating and issued a $93.00 price objective (down previously from $100.00) on shares of Medtronic in a research report on Thursday, February 22nd. Finally, TheStreet lowered Medtronic from a b rating to a c+ rating in a research report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $91.50.
Shares of Medtronic (NYSE:MDT) opened at $78.14 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.43 and a quick ratio of 2.09. Medtronic has a 52-week low of $76.51 and a 52-week high of $89.72. The company has a market capitalization of $108,484.06, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 2.27 and a beta of 0.97.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 23rd will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, March 22nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.35%. Medtronic’s dividend payout ratio (DPR) is 90.64%.
In other Medtronic news, Director James T. Lenehan sold 1,306 shares of the firm’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $83.56, for a total value of $109,129.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Richard Kuntz sold 78,526 shares of the firm’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total value of $6,769,726.46. Following the completion of the transaction, the vice president now owns 149,761 shares in the company, valued at approximately $12,910,895.81. The disclosure for this sale can be found here. Insiders sold a total of 130,469 shares of company stock worth $11,016,054 in the last 90 days. 0.31% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in MDT. Janus Henderson Group PLC purchased a new position in Medtronic in the 3rd quarter valued at $579,952,000. BlackRock Inc. lifted its holdings in Medtronic by 6.4% in the 4th quarter. BlackRock Inc. now owns 94,595,580 shares of the medical technology company’s stock valued at $7,638,592,000 after purchasing an additional 5,688,180 shares in the last quarter. American Century Companies Inc. lifted its holdings in Medtronic by 35.0% in the 3rd quarter. American Century Companies Inc. now owns 9,082,452 shares of the medical technology company’s stock valued at $706,342,000 after purchasing an additional 2,354,467 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in Medtronic by 3,863.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 2,064,912 shares of the medical technology company’s stock valued at $160,588,000 after purchasing an additional 2,012,810 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Medtronic by 20.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 11,388,438 shares of the medical technology company’s stock valued at $885,673,000 after purchasing an additional 1,954,535 shares in the last quarter. Institutional investors own 81.19% of the company’s stock.
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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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