Medtronic (MDT) Given New $95.00 Price Target at Morgan Stanley

Medtronic (NYSE:MDT) had its price target increased by Morgan Stanley from $91.00 to $95.00 in a report released on Monday. They currently have an equal weight rating on the medical technology company’s stock.

A number of other research firms have also recently commented on MDT. Oppenheimer set a $94.00 target price on Medtronic and gave the company a buy rating in a research note on Friday, January 19th. Stifel Nicolaus upped their target price on Medtronic from $83.00 to $85.00 and gave the company a hold rating in a research note on Wednesday, November 22nd. Northland Securities reaffirmed a hold rating and set a $80.00 target price on shares of Medtronic in a research note on Wednesday, November 22nd. Zacks Investment Research raised Medtronic from a sell rating to a hold rating in a research note on Thursday, November 23rd. Finally, Jefferies Group reaffirmed a buy rating and set a $99.00 target price on shares of Medtronic in a research note on Thursday, November 23rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. Medtronic presently has an average rating of Buy and a consensus target price of $90.10.

Shares of Medtronic (NYSE MDT) opened at $78.38 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40. Medtronic has a 52 week low of $75.44 and a 52 week high of $89.72. The firm has a market capitalization of $110,110.00, a P/E ratio of 21.53, a price-to-earnings-growth ratio of 2.25 and a beta of 0.93.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The company had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.12 earnings per share. equities analysts predict that Medtronic will post 4.76 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, January 19th. Shareholders of record on Friday, December 29th were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.84 dividend on an annualized basis and a yield of 2.35%. Medtronic’s dividend payout ratio is currently 50.55%.

In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $82.82, for a total transaction of $1,325,120.00. Following the completion of the sale, the executive vice president now owns 88,818 shares in the company, valued at $7,355,906.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Richard Kuntz sold 78,526 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total value of $6,769,726.46. Following the sale, the vice president now owns 149,761 shares of the company’s stock, valued at approximately $12,910,895.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 136,684 shares of company stock valued at $11,582,596. 0.31% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors purchased a new stake in shares of Medtronic during the 2nd quarter valued at $384,000. Wesbanco Bank Inc. lifted its holdings in shares of Medtronic by 3.1% during the 2nd quarter. Wesbanco Bank Inc. now owns 10,170 shares of the medical technology company’s stock valued at $903,000 after purchasing an additional 308 shares during the last quarter. Chilton Investment Co. LLC lifted its holdings in shares of Medtronic by 6.1% during the 2nd quarter. Chilton Investment Co. LLC now owns 26,842 shares of the medical technology company’s stock valued at $2,382,000 after purchasing an additional 1,538 shares during the last quarter. Moors & Cabot Inc. lifted its holdings in shares of Medtronic by 0.4% during the 2nd quarter. Moors & Cabot Inc. now owns 43,227 shares of the medical technology company’s stock valued at $3,842,000 after purchasing an additional 178 shares during the last quarter. Finally, Sawtooth Solutions LLC purchased a new stake in shares of Medtronic during the 2nd quarter valued at $208,000. Institutional investors own 81.97% of the company’s stock.

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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.

Analyst Recommendations for Medtronic (NYSE:MDT)

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