Medtronic (NYSE:MDT) received a $94.00 price objective from equities researchers at Oppenheimer in a note issued to investors on Friday. The firm currently has a “buy” rating on the medical technology company’s stock. Oppenheimer’s target price would suggest a potential upside of 7.72% from the company’s current price.

Several other equities research analysts have also commented on MDT. Jefferies Group reaffirmed a “buy” rating and set a $96.00 price target on shares of Medtronic in a research report on Thursday, September 28th. SunTrust Banks reaffirmed a “buy” rating and set a $96.00 price target on shares of Medtronic in a research report on Monday, October 2nd. Wells Fargo & Co lowered shares of Medtronic from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $93.00 to $83.00 in a research report on Monday, October 9th. Royal Bank of Canada reduced their price target on shares of Medtronic from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, October 9th. Finally, Stifel Nicolaus reduced their price target on shares of Medtronic from $91.00 to $83.00 and set a “hold” rating for the company in a research report on Monday, October 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $89.65.

Shares of Medtronic (NYSE:MDT) opened at $87.26 on Friday. Medtronic has a 52-week low of $73.59 and a 52-week high of $89.72. The company has a market cap of $118,110.00, a PE ratio of 23.97, a PEG ratio of 2.37 and a beta of 0.99. 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 (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The firm had revenue of $7.05 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. sell-side analysts expect that Medtronic will post 4.77 earnings per share for the current fiscal year.

In other Medtronic news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $79.02, for a total value of $1,264,320.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Richard Kuntz sold 78,526 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 149,761 shares of the company’s stock, valued at $12,910,895.81. The disclosure for this sale can be found here. Insiders sold a total of 136,684 shares of company stock valued at $11,582,596 over the last three months. 0.31% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the business. BDO Wealth Advisors LLC bought a new position in Medtronic in the 2nd quarter worth approximately $103,000. Motco boosted its stake in Medtronic by 8.7% in the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after purchasing an additional 99 shares during the period. Quadrant Capital Group LLC boosted its stake in Medtronic by 21.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after purchasing an additional 290 shares during the period. Blue Chip Partners Inc. bought a new position in shares of Medtronic during the 3rd quarter valued at approximately $118,000. Finally, Westwood Holdings Group Inc. bought a new position in shares of Medtronic during the 2nd quarter valued at approximately $151,000. Institutional investors and hedge funds own 81.75% of the company’s stock.

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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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