Medtronic (MDT) Earning Somewhat Positive Press Coverage, Accern Reports

Media headlines about Medtronic (NYSE:MDT) have been trending somewhat positive recently, Accern reports. The research group identifies negative and positive news coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Medtronic earned a coverage optimism score of 0.20 on Accern’s scale. Accern also assigned headlines about the medical technology company an impact score of 48.1213300986249 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.

Here are some of the news headlines that may have effected Accern Sentiment Analysis’s analysis:

Shares of Medtronic stock traded up $1.73 during midday trading on Thursday, reaching $86.99. 8,861,032 shares of the company’s stock traded hands, compared to its average volume of 5,296,069. The company has a market capitalization of $115.17 billion, a P/E ratio of 18.91, a P/E/G ratio of 2.33 and a beta of 0.94. The company has a current ratio of 2.43, a quick ratio of 2.09 and a debt-to-equity ratio of 0.51. Medtronic has a 52 week low of $76.41 and a 52 week high of $89.72.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.01. The business had revenue of $7.37 billion for the quarter, compared to the consensus estimate of $7.20 billion. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. Medtronic’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.12 EPS. equities research analysts predict that Medtronic will post 4.74 earnings per share for the current year.

MDT has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price objective on shares of Medtronic from $95.00 to $90.00 and set an “equal weight” rating for the company in a research note on Thursday, March 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $92.00 price objective on shares of Medtronic in a research note on Wednesday, February 14th. Oppenheimer reaffirmed a “buy” rating on shares of Medtronic in a research note on Tuesday, March 20th. Citigroup reissued a “buy” rating and set a $93.00 target price (down previously from $100.00) on shares of Medtronic in a research note on Thursday, February 22nd. Finally, Piper Jaffray Companies began coverage on shares of Medtronic in a research note on Friday, April 27th. They set an “overweight” rating and a $90.00 target price for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Medtronic currently has a consensus rating of “Buy” and a consensus target price of $91.61.

In other news, Director James T. Lenehan sold 1,306 shares of the firm’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $83.56, for a total transaction of $109,129.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Carol A. Surface sold 24,479 shares of the firm’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $78.18, for a total transaction of $1,913,768.22. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

About Medtronic

Medtronic plc manufactures and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. The company's Cardiac and Vascular Group segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; diagnostics and monitoring devices; mechanical circulatory support, TYRX, and AF products; and remote monitoring and patient-centered software.

Insider Buying and Selling by Quarter for Medtronic (NYSE:MDT)

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