News stories about Medtronic (NYSE:MDT) have been trending somewhat negative on Saturday, according to InfoTrie Sentiment Analysis. The research group identifies negative and positive media coverage by monitoring more than six thousand blog and news sources in real-time. The firm ranks coverage of companies on a scale of negative five to five, with scores closest to five being the most favorable. Medtronic earned a daily sentiment score of -1.50 on their scale. InfoTrie also gave news stories about the medical technology company an news buzz score of 10 out of 10, meaning that recent media coverage is extremely likely to have an effect on the stock’s share price in the immediate future.
Here are some of the media headlines that may have effected Medtronic’s ranking:
- Medtronic (NYSE:MDT) Stock Rating Reaffirmed by CSFB (americanbankingnews.com)
- BJ’s, AstraZeneca rise; Hormel Foods, Medtronic fall – Houston Chronicle (houstonchronicle.com)
- Medtronic Guardian™ Connect Continuous Glucose Monitoring (CGM) System for Diabetes Now Compatible with Android Devices – BioSpace (biospace.com)
- Medtronic is buckling up and ready to buy; Medtech’s need for speed – Mass Device (massdevice.com)
- Medtronic (NYSE:MDT) Given Buy Rating at Credit Suisse Group (americanbankingnews.com)
A number of research analysts have weighed in on MDT shares. Jefferies Financial Group lifted their price objective on shares of Medtronic from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday. Sanford C. Bernstein reaffirmed a “hold” rating and issued a $112.00 price objective on shares of Medtronic in a report on Thursday, April 23rd. JPMorgan Chase & Co. cut their target price on shares of Medtronic from $128.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. UBS Group cut their target price on shares of Medtronic from $130.00 to $118.00 and set a “buy” rating for the company in a research note on Friday. Finally, CSFB reissued a “buy” rating and set a $117.00 target price on shares of Medtronic in a research note on Saturday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $115.37.
Medtronic (NYSE:MDT) last posted its earnings results on Thursday, May 21st. The medical technology company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.70). The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $6.10 billion. Medtronic had a net margin of 16.56% and a return on equity of 12.17%. The business’s revenue for the quarter was down 26.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.54 earnings per share. As a group, analysts anticipate that Medtronic will post 4.82 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be issued a $0.58 dividend. This is a positive change from Medtronic’s previous quarterly dividend of $0.54. This represents a $2.32 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Thursday, June 25th. Medtronic’s dividend payout ratio is currently 47.06%.
Medtronic Company Profile
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
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