Medtronic (NYSE:MDT) had its price target raised by equities researchers at Raymond James from $105.00 to $118.00 in a report issued on Wednesday, MarketBeat reports. The firm presently has an “outperform” rating on the medical technology company’s stock. Raymond James’ price objective points to a potential upside of 9.43% from the stock’s current price.
A number of other analysts have also recently weighed in on MDT. Northland Securities restated a “hold” rating and set a $100.00 target price on shares of Medtronic in a report on Wednesday. Barclays raised their target price on shares of Medtronic from $104.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Needham & Company LLC restated a “buy” rating on shares of Medtronic in a report on Tuesday, July 23rd. UBS Group raised their target price on shares of Medtronic to $112.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Finally, Oppenheimer set a $110.00 target price on shares of Medtronic and gave the stock a “buy” rating in a report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $113.38.
NYSE MDT opened at $107.83 on Wednesday. Medtronic has a 12 month low of $81.66 and a 12 month high of $109.70. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.59 and a quick ratio of 2.15. The firm has a market capitalization of $139.72 billion, a PE ratio of 20.66, a P/E/G ratio of 2.67 and a beta of 0.67. The company’s 50 day simple moving average is $101.49 and its 200 day simple moving average is $93.96.
Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.08. Medtronic had a net margin of 15.15% and a return on equity of 14.16%. The business had revenue of $7.49 billion for the quarter, compared to analyst estimates of $7.40 billion. During the same quarter last year, the business earned $1.17 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Sell-side analysts anticipate that Medtronic will post 5.57 earnings per share for the current fiscal year.
In related news, SVP Bradley E. Lerman sold 6,599 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $102.02, for a total value of $673,229.98. Following the completion of the transaction, the senior vice president now owns 105,960 shares of the company’s stock, valued at approximately $10,810,039.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Carol A. Surface sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $97.66, for a total transaction of $878,940.00. The disclosure for this sale can be found here. Insiders sold a total of 95,701 shares of company stock valued at $9,318,744 in the last ninety days. Company insiders own 0.28% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Krane Funds Advisors LLC acquired a new position in Medtronic in the 2nd quarter worth approximately $25,000. Redhawk Wealth Advisors Inc. acquired a new position in Medtronic in the 2nd quarter worth approximately $34,000. Rocky Mountain Advisers LLC boosted its stake in Medtronic by 100.0% in the 2nd quarter. Rocky Mountain Advisers LLC now owns 400 shares of the medical technology company’s stock worth $39,000 after purchasing an additional 200 shares during the period. Mackey Komara & Dankovich LLC acquired a new position in Medtronic in the 1st quarter worth approximately $38,000. Finally, Transamerica Financial Advisors Inc. acquired a new position in Medtronic in the 2nd quarter worth approximately $48,000. 80.62% of the stock is owned by hedge funds and other institutional investors.
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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