Medtronic (NYSE:MDT)‘s stock had its “hold” rating reiterated by stock analysts at Northland Securities in a note issued to investors on Wednesday, November 22nd. They currently have a $80.00 price objective on the medical technology company’s stock. Northland Securities’ target price would suggest a potential upside of 0.16% from the stock’s previous close.
Several other research analysts have also issued reports on MDT. SunTrust Banks reissued a “buy” rating and set a $96.00 target price on shares of Medtronic in a research note on Monday, October 2nd. BidaskClub raised shares of Medtronic from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Jefferies Group reiterated a “buy” rating and issued a $96.00 target price on shares of Medtronic in a report on Thursday, September 28th. Zacks Investment Research downgraded shares of Medtronic from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Oppenheimer reiterated a “buy” rating and issued a $94.00 target price on shares of Medtronic in a report on Wednesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $88.02.
Medtronic (NYSE:MDT) opened at $79.87 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 2.05. Medtronic has a 12-month low of $69.35 and a 12-month high of $89.72. The stock has a market cap of $110,006.42, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 2.24 and a beta of 1.00.
Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The company had revenue of $7.05 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same period in the prior year, the firm posted $1.12 EPS. The company’s quarterly revenue was down 4.0% on a year-over-year basis. equities research analysts predict that Medtronic will post 4.77 earnings per share for the current year.
In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $78.03, for a total transaction of $1,248,480.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Omar Ishrak sold 140,407 shares of Medtronic stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the transaction, the chief executive officer now directly owns 668,503 shares in the company, valued at $54,569,899.89. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 172,407 shares of company stock valued at $13,974,223. 0.31% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of MDT. Hudock Capital Group LLC increased its position in Medtronic by 0.5% during the 2nd quarter. Hudock Capital Group LLC now owns 2,195 shares of the medical technology company’s stock valued at $194,000 after purchasing an additional 11 shares during the period. Bollard Group LLC increased its position in Medtronic by 0.4% during the 2nd quarter. Bollard Group LLC now owns 3,651 shares of the medical technology company’s stock valued at $324,000 after purchasing an additional 14 shares during the period. Triangle Securities Wealth Management increased its position in Medtronic by 0.3% during the 2nd quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock valued at $390,000 after purchasing an additional 15 shares during the period. IFC Holdings Incorporated FL increased its position in Medtronic by 0.3% during the 2nd quarter. IFC Holdings Incorporated FL now owns 5,673 shares of the medical technology company’s stock valued at $501,000 after purchasing an additional 17 shares during the period. Finally, Arcus Capital Partners LLC increased its position in Medtronic by 0.8% during the 2nd quarter. Arcus Capital Partners LLC now owns 3,249 shares of the medical technology company’s stock valued at $288,000 after purchasing an additional 25 shares during the period. 81.85% of the stock is currently owned by institutional investors.
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Medtronic Company Profile
Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.
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