Medtronic (NYSE:MDT)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research report issued on Thursday, TipRanks reports. They presently have a $113.00 price target on the medical technology company’s stock. Needham & Company LLC’s price target suggests a potential upside of 19.30% from the company’s previous close.
MDT has been the topic of a number of other research reports. DZ Bank cut Medtronic from a “buy” rating to a “hold” rating and set a $92.00 price objective on the stock. in a report on Thursday, May 14th. Sanford C. Bernstein restated a “hold” rating and issued a $112.00 target price on shares of Medtronic in a research note on Thursday, April 23rd. SVB Leerink upped their target price on Medtronic from $100.00 to $105.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 28th. Credit Suisse Group decreased their target price on Medtronic from $126.00 to $121.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. Finally, ValuEngine lowered Medtronic from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $115.03.
Shares of Medtronic stock opened at $94.72 on Thursday. The stock has a fifty day simple moving average of $96.70 and a 200 day simple moving average of $105.81. Medtronic has a 12-month low of $72.13 and a 12-month high of $122.15. The company has a market capitalization of $124.93 billion, a P/E ratio of 24.04, a price-to-earnings-growth ratio of 2.64 and a beta of 0.69. The company has a current ratio of 2.75, a quick ratio of 2.28 and a debt-to-equity ratio of 0.48.
Medtronic (NYSE:MDT) last issued its quarterly earnings results on Thursday, May 21st. The medical technology company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.70). Medtronic had a net margin of 17.11% and a return on equity of 14.76%. The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.10 billion. During the same period in the prior year, the company earned $1.54 EPS. The firm’s quarterly revenue was down 26.4% on a year-over-year basis. On average, analysts predict that Medtronic will post 4.68 EPS for the current year.
A number of hedge funds have recently modified their holdings of MDT. Balentine LLC purchased a new stake in Medtronic during the 1st quarter valued at about $33,000. Stonebridge Financial Planning Group LLC purchased a new stake in Medtronic during the 4th quarter valued at about $34,000. Reilly Financial Advisors LLC boosted its holdings in Medtronic by 79.4% during the 1st quarter. Reilly Financial Advisors LLC now owns 375 shares of the medical technology company’s stock valued at $34,000 after acquiring an additional 166 shares during the period. Lion Street Advisors LLC purchased a new stake in Medtronic during the 1st quarter valued at about $36,000. Finally, CLS Investments LLC boosted its holdings in Medtronic by 44.2% during the 4th quarter. CLS Investments LLC now owns 346 shares of the medical technology company’s stock valued at $39,000 after acquiring an additional 106 shares during the period. Institutional investors own 81.74% of the company’s stock.
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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