Medtronic (NYSE:MDT) had its target price increased by Wells Fargo & Co from $110.00 to $120.00 in a report issued on Wednesday, BenzingaRatingsTable reports. Wells Fargo & Co currently has an outperform rating on the medical technology company’s stock.
Several other equities research analysts have also weighed in on the company. BTIG Research raised their price objective on Medtronic to $120.00 and gave the stock a buy rating in a research note on Wednesday. Zacks Investment Research raised Medtronic from a sell rating to a hold rating in a research note on Monday, May 20th. Northland Securities reissued a hold rating and set a $100.00 price objective on shares of Medtronic in a research note on Wednesday. Morgan Stanley raised their price objective on Medtronic from $100.00 to $105.00 and gave the stock an equal weight rating in a research note on Wednesday, August 14th. Finally, Barclays raised their price objective on Medtronic from $104.00 to $110.00 and gave the stock an overweight rating in a research note on Thursday, July 11th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $113.55.
Shares of NYSE MDT opened at $106.05 on Wednesday. The stock has a fifty day moving average price of $101.64 and a two-hundred day moving average price of $94.06. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.15 and a current ratio of 2.67. The firm has a market cap of $144.62 billion, a P/E ratio of 20.32, a PEG ratio of 2.65 and a beta of 0.67. Medtronic has a 1 year low of $81.66 and a 1 year high of $109.70.
Medtronic (NYSE:MDT) last issued 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 firm had revenue of $7.49 billion during 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%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the company posted $1.17 EPS. On average, research analysts predict that Medtronic will post 5.56 earnings per share for the current fiscal year.
In other news, SVP Richard Kuntz sold 3,438 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $101.12, for a total value of $347,650.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Bradley E. Lerman sold 4,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $100.31, for a total value of $401,240.00. Following the completion of the sale, the senior vice president now owns 52,906 shares of the company’s stock, valued at approximately $5,307,000.86. The disclosure for this sale can be found here. Insiders sold 95,701 shares of company stock valued at $9,318,744 in the last 90 days. Corporate insiders own 0.28% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MDT. Krane Funds Advisors LLC purchased a new stake in shares of Medtronic in the second quarter valued at $25,000. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Medtronic in the second quarter valued at $34,000. Mackey Komara & Dankovich LLC purchased a new stake in shares of Medtronic in the first quarter valued at $38,000. Rocky Mountain Advisers LLC raised its holdings in shares of Medtronic by 100.0% during the second quarter. Rocky Mountain Advisers LLC now owns 400 shares of the medical technology company’s stock worth $39,000 after acquiring an additional 200 shares in the last quarter. Finally, Motco raised its holdings in shares of Medtronic by 159.3% during the first quarter. Motco now owns 516 shares of the medical technology company’s stock worth $47,000 after acquiring an additional 317 shares in the last quarter. Institutional investors own 80.62% of the company’s stock.
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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