Medtronic (NYSE:MDT) PT Raised to $112.00

Share on StockTwits

Medtronic (NYSE:MDT) had its price target boosted by Stifel Nicolaus from $95.00 to $112.00 in a research note released on Wednesday, BenzingaRatingsTable reports. Stifel Nicolaus currently has a hold rating on the medical technology company’s stock.

Several other brokerages have also weighed in on MDT. Zacks Investment Research raised Medtronic from a sell rating to a hold rating in a research report on Monday, May 20th. Needham & Company LLC reissued a buy rating on shares of Medtronic in a research report on Tuesday, July 23rd. Deutsche Bank raised their target price on Medtronic from $100.00 to $111.00 and gave the stock a buy rating in a research report on Monday, August 19th. Barclays raised their target price on Medtronic from $104.00 to $110.00 and gave the stock an overweight rating in a research report on Thursday, July 11th. Finally, Oppenheimer set a $110.00 target price on Medtronic and gave the stock a buy rating in a research report on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $113.55.

MDT stock opened at $106.05 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.67 and a quick ratio of 2.15. The firm has a market capitalization of $144.62 billion, a P/E ratio of 20.32, a P/E/G ratio of 2.65 and a beta of 0.67. The business’s 50-day moving average is $101.64 and its two-hundred day moving average is $94.06. Medtronic has a 1 year low of $81.66 and a 1 year high of $109.70.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.08. The company had revenue of $7.49 billion for the quarter, compared to analyst estimates of $7.40 billion. Medtronic had a return on equity of 14.36% and a net margin of 14.41%. Medtronic’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.17 EPS. On average, analysts expect that Medtronic will post 5.56 EPS for the current year.

In other Medtronic news, EVP Hoedt Rob Ten sold 9,000 shares of Medtronic stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $91.88, for a total transaction of $826,920.00. Following the transaction, the executive vice president now owns 58,785 shares of the company’s stock, valued at $5,401,165.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Bradley E. Lerman sold 4,000 shares of Medtronic stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $100.31, for a total value of $401,240.00. Following the transaction, the senior vice president now directly owns 52,906 shares in the company, valued at approximately $5,307,000.86. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,701 shares of company stock worth $9,318,744. 0.28% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hayden Royal LLC purchased a new position in shares of Medtronic in the 2nd quarter valued at approximately $275,000. Rockefeller Capital Management L.P. grew its stake in shares of Medtronic by 0.6% in the 1st quarter. Rockefeller Capital Management L.P. now owns 1,357,738 shares of the medical technology company’s stock valued at $123,663,000 after purchasing an additional 7,939 shares during the last quarter. Cim LLC grew its stake in shares of Medtronic by 12.9% in the 2nd quarter. Cim LLC now owns 4,189 shares of the medical technology company’s stock valued at $408,000 after purchasing an additional 480 shares during the last quarter. Concentric Wealth Management LLC grew its stake in shares of Medtronic by 3.1% in the 2nd quarter. Concentric Wealth Management LLC now owns 19,536 shares of the medical technology company’s stock valued at $1,903,000 after purchasing an additional 595 shares during the last quarter. Finally, Belpointe Asset Management LLC grew its stake in shares of Medtronic by 35.3% in the 1st quarter. Belpointe Asset Management LLC now owns 4,581 shares of the medical technology company’s stock valued at $417,000 after purchasing an additional 1,196 shares during the last quarter. 80.62% of the stock is currently owned by 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.

Featured Story: Day Trading – Risk Worth the Reward?

Analyst Recommendations for Medtronic (NYSE:MDT)

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.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.