Medtronic (NYSE:MDT)‘s stock had its “buy” rating reaffirmed by equities research analysts at Oppenheimer in a report released on Tuesday.

MDT has been the subject of a number of other research reports. Morgan Stanley boosted their price objective on shares of Medtronic from $91.00 to $95.00 and gave the company an “equal weight” rating in a research report on Monday, February 5th. TheStreet downgraded shares of Medtronic from a “b” rating to a “c+” rating in a research report on Tuesday, February 20th. Jefferies Group reissued a “buy” rating and set a $99.00 price objective on shares of Medtronic in a research report on Thursday, November 23rd. Stifel Nicolaus boosted their price objective on shares of Medtronic from $83.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, November 22nd. Finally, Bank of America raised shares of Medtronic from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $91.50.

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Shares of Medtronic (NYSE:MDT) opened at $80.04 on Tuesday. Medtronic has a 1 year low of $76.51 and a 1 year high of $89.72. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.09 and a current ratio of 2.43. The stock has a market cap of $108,606.04, a price-to-earnings ratio of 39.43, a PEG ratio of 2.27 and a beta of 0.97.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.01. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. The firm had revenue of $7.37 billion during the quarter, compared to the consensus estimate of $7.20 billion. During the same quarter in the previous year, the firm posted $1.12 EPS. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. sell-side analysts forecast that Medtronic will post 4.75 earnings per share for the current year.

In other Medtronic news, SVP Carol A. Surface sold 24,479 shares of the business’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $78.18, for a total value of $1,913,768.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James T. Lenehan sold 1,306 shares of the business’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $83.56, for a total transaction of $109,129.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 130,469 shares of company stock worth $11,016,054. Corporate insiders own 0.31% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. raised its position in shares of Medtronic by 16.6% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 63,710 shares of the medical technology company’s stock valued at $5,145,000 after buying an additional 9,089 shares in the last quarter. KCM Investment Advisors LLC raised its position in shares of Medtronic by 1.9% during the 4th quarter. KCM Investment Advisors LLC now owns 86,727 shares of the medical technology company’s stock valued at $7,003,000 after buying an additional 1,622 shares in the last quarter. Colonial Trust Advisors raised its position in shares of Medtronic by 35.3% during the 4th quarter. Colonial Trust Advisors now owns 40,549 shares of the medical technology company’s stock valued at $3,274,000 after buying an additional 10,584 shares in the last quarter. Xact Kapitalforvaltning AB raised its position in shares of Medtronic by 6.7% during the 4th quarter. Xact Kapitalforvaltning AB now owns 240,406 shares of the medical technology company’s stock valued at $19,413,000 after buying an additional 15,053 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Medtronic by 1.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 286,744 shares of the medical technology company’s stock valued at $23,156,000 after buying an additional 3,824 shares in the last quarter. Institutional investors and hedge funds own 81.19% 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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