Share on StockTwits

Medtronic (NYSE:MDT) saw a significant growth in short interest in July. As of July 15th, there was short interest totalling 49,573,213 shares, a growth of 10.5% from the June 30th total of 44,872,176 shares, reports. Currently, 5.0% of the shares of the company are short sold. Based on an average daily volume of 7,276,040 shares, the short-interest ratio is presently 6.8 days.

A number of analysts have recently weighed in on MDT shares. Analysts at Jefferies Group upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a research note on Friday, June 20th. They now have a $75.00 price target on the stock, up previously from $60.00. Separately, analysts at Oppenheimer raised their price target on shares of Medtronic from $66.00 to $73.00 in a research note on Wednesday, June 18th. They now have an “outperform” rating on the stock. Finally, analysts at Barclays upgraded shares of Medtronic from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, June 18th. They now have a $73.00 price target on the stock, up previously from $67.00. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $67.41.

Medtronic (NYSE:MDT) opened at 62.58 on Thursday. Medtronic has a one year low of $51.22 and a one year high of $65.50. The stock’s 50-day moving average is $63.08 and its 200-day moving average is $60.09. The company has a market cap of $62.315 billion and a price-to-earnings ratio of 20.75.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, May 20th. The company reported $1.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.12. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.58 billion. During the same quarter in the previous year, the company posted $1.10 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts expect that Medtronic will post $4.05 EPS for the current fiscal year.

Medtronic, Inc (NYSE:MDT) is engaged in medical technology – alleviating pain, restoring health, and extending life for millions of people worldwide.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.