Medtronic (NYSE:MDT) Given New $91.00 Price Target at Robert W. Baird

Medtronic (NYSE:MDT) had its target price boosted by Robert W. Baird from $90.00 to $91.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the medical technology company’s stock. Robert W. Baird’s target price points to a potential upside of 5.75% from the stock’s current price.

A number of other research analysts have also recently weighed in on MDT. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Wednesday, February 12th. Truist Financial dropped their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Wells Fargo & Company reduced their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. JPMorgan Chase & Co. decreased their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Finally, Barclays boosted their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $94.87.

Medtronic Stock Performance

Shares of MDT stock opened at $86.05 on Wednesday. Medtronic has a 52-week low of $75.96 and a 52-week high of $93.08. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The stock has a market cap of $110.34 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 2.63 and a beta of 0.84. The business has a 50-day simple moving average of $85.74 and a 200-day simple moving average of $87.02.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. On average, equities analysts expect that Medtronic will post 5.45 EPS for the current year.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Institutional Trading of Medtronic

Several hedge funds have recently made changes to their positions in the company. Sequoia Financial Advisors LLC raised its position in Medtronic by 14.9% in the third quarter. Sequoia Financial Advisors LLC now owns 72,228 shares of the medical technology company’s stock valued at $6,503,000 after purchasing an additional 9,340 shares during the period. Signaturefd LLC raised its holdings in Medtronic by 4.3% in the 3rd quarter. Signaturefd LLC now owns 13,332 shares of the medical technology company’s stock valued at $1,200,000 after buying an additional 551 shares during the period. Eastern Bank acquired a new position in Medtronic in the third quarter valued at about $1,902,000. GAM Holding AG lifted its position in Medtronic by 0.4% in the third quarter. GAM Holding AG now owns 109,330 shares of the medical technology company’s stock valued at $9,843,000 after buying an additional 440 shares during the last quarter. Finally, Meadow Creek Wealth Advisors LLC boosted its stake in Medtronic by 5.9% during the third quarter. Meadow Creek Wealth Advisors LLC now owns 5,677 shares of the medical technology company’s stock worth $511,000 after buying an additional 318 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Company Profile

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.