2 weeks Ago By ABMN Staff
Medtronic plc ( NYSE:MDT – Get Free Report ) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 12,700,000 shares, a drop of 23.0% from the August 31st total of 16,500,000 shares.
Approximately 1.0% of the shares of the stock are short sold. Based on an average daily volume of 6,650,000 shares, the days-to-cover ratio is presently 1.
9 days. Medtronic Trading Down 0.2 % MDT stock traded down $0.
14 during trading on Friday, reaching $89.31. 5,232,456 shares of the stock were exchanged, compared to its average volume of 6,412,290.
The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.
55. The business has a 50 day moving average price of $85.59 and a 200-day moving average price of $83.
11. Medtronic has a 1 year low of $68.84 and a 1 year high of $91.
49. The firm has a market capitalization of $114.52 billion, a price-to-earnings ratio of 32.
48, a P/E/G ratio of 2.56 and a beta of 0.84.
Medtronic ( NYSE:MDT – Get Free Report ) last issued its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.
20 by $0.03. Medtronic had a net margin of 12.
06% and a return on equity of 13.68%. The company had revenue of $7.
97 billion for the quarter, compared to the consensus estimate of $7.90 billion. During the same period in the previous year, the firm earned $1.
20 earnings per share. Medtronic’s quarterly revenue was up 3.4% compared to the same quarter last year.
On average, research analysts predict that Medtronic will post 5.46 earnings per share for the current year. Medtronic Dividend Announcement Institutional Investors Weigh In On Medtronic A number of institutional investors and hedge funds have recently made changes to their positions in the stock.
Capital Research Global Investors raised its stake in shares of Medtronic by 7.1% in the 1st quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock valued at $2,691,577,000 after acquiring an additional 2,044,109 shares during the period.
Pzena Investment Management LLC raised its stake in shares of Medtronic by 8.3% in the 2nd quarter. Pzena Investment Management LLC now owns 8,307,123 shares of the medical technology company’s stock valued at $653,854,000 after acquiring an additional 637,931 shares during the period.
Dimensional Fund Advisors LP raised its stake in shares of Medtronic by 7.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock valued at $560,494,000 after acquiring an additional 515,751 shares during the period.
Longview Partners Guernsey LTD grew its holdings in shares of Medtronic by 2.3% in the first quarter. Longview Partners Guernsey LTD now owns 6,635,054 shares of the medical technology company’s stock valued at $578,245,000 after purchasing an additional 147,737 shares in the last quarter.
Finally, Raymond James & Associates grew its holdings in shares of Medtronic by 5.7% in the second quarter. Raymond James & Associates now owns 6,246,361 shares of the medical technology company’s stock valued at $491,651,000 after purchasing an additional 336,618 shares in the last quarter.
82.06% of the stock is owned by hedge funds and other institutional investors. Analysts Set New Price Targets MDT has been the topic of several research analyst reports.
Citigroup dropped their target price on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th.
Robert W. Baird lifted their target price on shares of Medtronic from $82.00 to $90.
00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Stifel Nicolaus lifted their target price on shares of Medtronic from $85.00 to $87.
00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. Oppenheimer raised their price target on shares of Medtronic from $92.00 to $94.
00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. Finally, The Goldman Sachs Group began coverage on shares of Medtronic in a research note on Thursday, May 30th. They issued a “sell” rating and a $83.
00 price target on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.
com, the company currently has a consensus rating of “Hold” and an average target price of $92.92. Check Out Our Latest Stock Report on Medtronic Medtronic Company Profile ( Get Free Report ) Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide.
Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software. Read More Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter .
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