Medtronic (NYSE:MDT) PT Raised to $93.00 at Truist Financial

Medtronic (NYSE:MDTGet Free Report) had its price target upped by stock analysts at Truist Financial from $90.00 to $93.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the medical technology company’s stock. Truist Financial’s target price indicates a potential upside of 3.89% from the stock’s current price.

Several other analysts also recently weighed in on the stock. Evercore ISI boosted their price target on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Stifel Nicolaus boosted their price target on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Robert W. Baird boosted their price target on shares of Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Piper Sandler boosted their price target on shares of Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Finally, Oppenheimer boosted their price target on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $95.36.

View Our Latest Research Report on Medtronic

Medtronic Price Performance

NYSE:MDT traded up $0.16 during trading hours on Monday, hitting $89.52. The stock had a trading volume of 502,183 shares, compared to its average volume of 6,260,301. Medtronic has a one year low of $68.84 and a one year high of $91.49. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. The firm has a market capitalization of $114.79 billion, a price-to-earnings ratio of 32.46, a P/E/G ratio of 2.53 and a beta of 0.84. The company has a 50 day simple moving average of $87.54 and a two-hundred day simple moving average of $83.44.

Medtronic (NYSE:MDTGet Free Report) last posted its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The company had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. During the same period in the previous year, the firm posted $1.20 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. Research analysts forecast that Medtronic will post 5.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. First PREMIER Bank boosted its holdings in Medtronic by 1.8% during the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock worth $577,000 after buying an additional 116 shares in the last quarter. Quent Capital LLC boosted its holdings in Medtronic by 8.0% during the first quarter. Quent Capital LLC now owns 1,680 shares of the medical technology company’s stock worth $146,000 after buying an additional 125 shares in the last quarter. Abbrea Capital LLC boosted its holdings in Medtronic by 2.5% during the first quarter. Abbrea Capital LLC now owns 5,077 shares of the medical technology company’s stock worth $446,000 after buying an additional 125 shares in the last quarter. Waterway Wealth Management LLC boosted its holdings in Medtronic by 4.8% during the second quarter. Waterway Wealth Management LLC now owns 2,759 shares of the medical technology company’s stock worth $217,000 after buying an additional 126 shares in the last quarter. Finally, Americana Partners LLC boosted its holdings in Medtronic by 2.0% during the second quarter. Americana Partners LLC now owns 6,667 shares of the medical technology company’s stock worth $525,000 after buying an additional 128 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

About Medtronic

(Get Free Report)

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.

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Analyst Recommendations for Medtronic (NYSE:MDT)

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