Medtronic (NYSE:MDT) has been assigned a $94.00 price target by investment analysts at Oppenheimer in a report released on Friday. The brokerage currently has a “buy” rating on the medical technology company’s stock. Oppenheimer’s target price indicates a potential upside of 8.44% from the company’s current price.
Several other research analysts also recently issued reports on the company. Wells Fargo & Co downgraded Medtronic from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $93.00 to $83.00 in a research note on Monday, October 9th. Stifel Nicolaus decreased their target price 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. SunTrust Banks reissued a “buy” rating and set a $96.00 target price on shares of Medtronic in a research report on Friday, November 3rd. Leerink Swann reissued a “market perform” rating and set a $85.00 target price (down previously from $88.00) on shares of Medtronic in a research report on Monday, October 9th. Finally, Argus raised shares of Medtronic from a “hold” rating to a “buy” rating and increased their target price for the company from $81.27 to $95.00 in a research report on Tuesday, December 12th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $89.65.
Medtronic (NYSE:MDT) traded down $0.58 during trading on Friday, hitting $86.68. The stock had a trading volume of 7,310,000 shares, compared to its average volume of 4,930,000. Medtronic has a one year low of $73.59 and a one year high of $89.72. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 2.05. The firm has a market capitalization of $118,110.00, a P/E ratio of 23.81, a P/E/G ratio of 2.40 and a beta of 0.99.
Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The company had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the prior year, the firm posted $1.12 earnings per share. The firm’s revenue was down 4.0% compared to the same quarter last year. equities research analysts predict that Medtronic will post 4.77 EPS for the current fiscal year.
In related news, EVP Hooman Hakami sold 26,158 shares of the stock in a transaction on Friday, January 5th. The stock was sold at an average price of $85.00, for a total value of $2,223,430.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Richard Kuntz sold 78,526 shares of the stock in a transaction 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 in the company, valued at $12,910,895.81. The disclosure for this sale can be found here. Insiders have sold a total of 136,684 shares of company stock worth $11,582,596 over the last 90 days. Company insiders own 0.31% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of MDT. Somerset Trust Co lifted its holdings in shares of Medtronic by 3.8% in the 2nd quarter. Somerset Trust Co now owns 59,523 shares of the medical technology company’s stock worth $5,283,000 after purchasing an additional 2,201 shares in the last quarter. Howe & Rusling Inc. lifted its holdings in shares of Medtronic by 3.4% in the 2nd quarter. Howe & Rusling Inc. now owns 84,035 shares of the medical technology company’s stock worth $7,458,000 after purchasing an additional 2,725 shares in the last quarter. Liberty Capital Management Inc. lifted its stake in Medtronic by 9.5% during the 2nd quarter. Liberty Capital Management Inc. now owns 2,311 shares of the medical technology company’s stock valued at $202,000 after acquiring an additional 200 shares in the last quarter. Suffolk Capital Management LLC bought a new position in Medtronic during the 2nd quarter valued at $10,290,000. Finally, Bank of Stockton bought a new position in Medtronic during the 2nd quarter valued at $212,000. Institutional investors own 81.75% of the company’s stock.
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Medtronic Company Profile
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.