Medtronic (NYSE:MDT) had its price target boosted by Stifel Nicolaus from $95.00 to $112.00 in a research report report published on Wednesday, BenzingaRatingsTable reports. They currently have a hold rating on the medical technology company’s stock.
MDT has been the subject of a number of other reports. Deutsche Bank boosted their price target on Medtronic from $100.00 to $111.00 and gave the stock a buy rating in a report on Monday, August 19th. Oppenheimer set a $110.00 price target on Medtronic and gave the stock a buy rating in a report on Monday, July 15th. Cowen reissued an outperform rating and issued a $111.00 price target (up from $99.00) on shares of Medtronic in a report on Wednesday, August 14th. Northland Securities reissued a hold rating and issued a $100.00 price target on shares of Medtronic in a report on Wednesday. Finally, Royal Bank of Canada set a $110.00 price target on Medtronic and gave the stock a buy rating in a report on Friday, August 16th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Medtronic presently has a consensus rating of Buy and an average target price of $113.55.
MDT opened at $106.05 on Wednesday. The business’s fifty day moving average is $101.64 and its two-hundred day moving average is $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 company has a market cap of $144.62 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 2.65 and a beta of 0.67. Medtronic has a one year low of $81.66 and a one year high of $109.70.
In related news, EVP Hoedt Rob Ten sold 9,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $91.88, for a total value of $826,920.00. Following the completion of the transaction, the executive vice president now directly owns 58,785 shares in the company, valued at $5,401,165.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Bradley E. Lerman sold 6,599 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $102.02, for a total value of $673,229.98. Following the completion of the transaction, the senior vice president now owns 105,960 shares of the company’s stock, valued at $10,810,039.20. The disclosure for this sale can be found here. Insiders sold 95,701 shares of company stock valued at $9,318,744 over the last quarter. Insiders own 0.28% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Krane Funds Advisors LLC purchased a new stake in Medtronic during the second quarter valued at about $25,000. Redhawk Wealth Advisors Inc. purchased a new stake in Medtronic during the second quarter valued at about $34,000. Mackey Komara & Dankovich LLC purchased a new stake in Medtronic during the first quarter valued at about $38,000. Rocky Mountain Advisers LLC grew its position in Medtronic by 100.0% during the second quarter. Rocky Mountain Advisers LLC now owns 400 shares of the medical technology company’s stock valued at $39,000 after acquiring an additional 200 shares during the period. Finally, Motco grew its position in Medtronic by 159.3% during the first quarter. Motco now owns 516 shares of the medical technology company’s stock valued at $47,000 after acquiring an additional 317 shares during the period. Hedge funds and other institutional investors own 80.62% 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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