Medtronic (NYSE:MDT) PT Raised to $112.00

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.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 20th. The medical technology company reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.08. Medtronic had a return on equity of 14.36% and a net margin of 14.41%. The company had revenue of $7.49 billion for the quarter, compared to the consensus estimate of $7.40 billion. During the same period in the previous year, the business earned $1.17 earnings per share. Medtronic’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, analysts predict that Medtronic will post 5.56 EPS for the current fiscal year.

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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