Medtronic (NYSE:MDT) had its price objective boosted by analysts at BMO Capital Markets to $94.00 in a research report issued to clients and investors on Tuesday. The brokerage presently has an “outperform” rating on the medical technology company’s stock. BMO Capital Markets’ price target would indicate a potential upside of 14.48% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. Jefferies Group restated a “buy” rating and issued a $99.00 price objective on shares of Medtronic in a research report on Thursday, November 23rd. Zacks Investment Research upgraded shares of Medtronic from a “sell” rating to a “hold” rating in a research report on Thursday, November 23rd. Northland Securities restated a “hold” rating and issued a $80.00 price objective on shares of Medtronic in a research report on Wednesday, November 22nd. Oppenheimer restated a “buy” rating and issued a $94.00 price objective on shares of Medtronic in a research report on Wednesday, November 22nd. Finally, Stifel Nicolaus boosted their price objective on shares of Medtronic from $83.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, November 22nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $88.57.

Shares of Medtronic (MDT) traded up $0.19 on Tuesday, hitting $82.11. The stock had a trading volume of 455,029 shares, compared to its average volume of 4,950,855. The firm has a market cap of $110,974.65, a P/E ratio of 17.67, a P/E/G ratio of 2.26 and a beta of 1.00. The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50. Medtronic has a fifty-two week low of $69.35 and a fifty-two week high of $89.72.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.99 by $0.08. The business had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. Medtronic’s revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 EPS. sell-side analysts anticipate that Medtronic will post 4.77 EPS for the current fiscal year.

In related news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $78.03, for a total value of $1,248,480.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Omar Ishrak sold 140,407 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the completion of the transaction, the chief executive officer now directly owns 668,503 shares of the company’s stock, valued at $54,569,899.89. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 172,407 shares of company stock valued at $13,974,223. Company insiders own 0.31% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in MDT. Parkside Financial Bank & Trust raised its holdings in shares of Medtronic by 22.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after purchasing an additional 210 shares during the period. BDO Wealth Advisors LLC bought a new stake in shares of Medtronic in the 2nd quarter valued at about $103,000. Motco raised its holdings in shares of Medtronic by 8.7% in the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after purchasing an additional 99 shares during the period. Farmers National Bank bought a new stake in shares of Medtronic in the 1st quarter valued at about $121,000. Finally, Israel Discount Bank of New York bought a new stake in shares of Medtronic in the 1st quarter valued at about $117,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

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About Medtronic

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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