Medtronic (NYSE:MDT) had its target price lowered by research analysts at Raymond James from $105.00 to $104.00 in a report released on Wednesday. The firm currently has an “outperform” rating on the medical technology company’s stock. Raymond James’ price objective suggests a potential upside of 13.15% from the company’s previous close.

MDT has been the topic of several other research reports. Oppenheimer reissued a “buy” rating on shares of Medtronic in a research report on Friday, September 21st. BMO Capital Markets boosted their price target on shares of Medtronic from $94.00 to $104.00 and gave the company an “outperform” rating in a research report on Wednesday, August 22nd. Royal Bank of Canada boosted their price target on shares of Medtronic to $104.00 and gave the company an “outperform” rating in a research report on Wednesday, August 22nd. Argus boosted their price target on shares of Medtronic from $108.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 8th. Finally, Zacks Investment Research raised shares of Medtronic from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research report on Tuesday, October 23rd. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $102.98.

Shares of Medtronic stock traded down $0.25 during trading hours on Wednesday, reaching $91.91. 1,104,588 shares of the company’s stock were exchanged, compared to its average volume of 5,510,716. Medtronic has a 1 year low of $76.41 and a 1 year high of $100.15. The firm has a market capitalization of $122.05 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 2.40 and a beta of 0.94. The company has a quick ratio of 2.06, a current ratio of 2.46 and a debt-to-equity ratio of 0.47.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 20th. The medical technology company reported $1.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.07. The business had revenue of $7.48 billion during the quarter, compared to analyst estimates of $7.35 billion. Medtronic had a net margin of 10.56% and a return on equity of 12.98%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.07 earnings per share. On average, research analysts anticipate that Medtronic will post 5.12 EPS for the current fiscal year.

In other news, EVP Geoffrey Martha sold 49,799 shares of the stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $97.93, for a total transaction of $4,876,816.07. Following the sale, the executive vice president now owns 87,872 shares of the company’s stock, valued at $8,605,304.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Hooman Hakami sold 26,159 shares of the stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $96.29, for a total transaction of $2,518,850.11. Following the sale, the executive vice president now directly owns 63,046 shares in the company, valued at approximately $6,070,699.34. The disclosure for this sale can be found here. Insiders sold 123,134 shares of company stock worth $11,918,901 in the last ninety days. 0.28% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Ballew Advisors Inc purchased a new stake in shares of Medtronic during the second quarter worth approximately $100,000. Fort L.P. purchased a new stake in shares of Medtronic during the second quarter worth approximately $121,000. Polaris Greystone Financial Group LLC increased its stake in shares of Medtronic by 255.1% during the third quarter. Polaris Greystone Financial Group LLC now owns 1,321 shares of the medical technology company’s stock worth $130,000 after buying an additional 949 shares during the period. Amussen Hunsaker Associates LLC increased its stake in shares of Medtronic by 87.4% during the third quarter. Amussen Hunsaker Associates LLC now owns 1,535 shares of the medical technology company’s stock worth $141,000 after buying an additional 716 shares during the period. Finally, Trustcore Financial Services LLC increased its stake in shares of Medtronic by 97.3% during the second quarter. Trustcore Financial Services LLC now owns 1,760 shares of the medical technology company’s stock worth $151,000 after buying an additional 868 shares during the period. 79.56% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Medtronic (NYSE:MDT)

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