Medtronic (NYSE:MDT) PT Raised to $92.00

Medtronic (NYSE:MDT – Get Rating) had its target price boosted by investment analysts at Stifel Nicolaus from $90.00 to $92.00 in a report issued on Friday, The Fly reports. Stifel Nicolaus’ price objective indicates a potential upside of 10.13% from the stock’s current price.

MDT has been the subject of a number of other research reports. Wells Fargo & Company upgraded Medtronic from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $77.00 to $100.00 in a research note on Monday, April 24th. Barclays upgraded Medtronic from an “equal weight” rating to an “overweight” rating in a research note on Monday, April 24th. StockNews.com began coverage on Medtronic in a research note on Thursday, May 18th. They set a “buy” rating for the company. Truist Financial lifted their price objective on Medtronic from $88.00 to $93.00 in a research note on Monday, April 24th. Finally, Sanford C. Bernstein lowered their price objective on Medtronic from $100.00 to $99.00 in a research note on Friday. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $90.68.

Medtronic Trading Down 4.5 %

NYSE MDT opened at $83.54 on Friday. Medtronic has a fifty-two week low of $75.76 and a fifty-two week high of $101.39. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.39 and a current ratio of 1.76. The stock has a 50 day simple moving average of $84.78 and a two-hundred day simple moving average of $82.11. The stock has a market cap of $111.14 billion, a P/E ratio of 27.48, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71.

Medtronic (NYSE:MDT – Get Rating) last released its earnings results on Thursday, May 25th. The medical technology company reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.01. The company had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.25 billion. Medtronic had a return on equity of 13.37% and a net margin of 13.20%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.52 EPS. On average, analysts forecast that Medtronic will post 5.28 earnings per share for the current year.

Institutional Trading of Medtronic

Large investors have recently modified their holdings of the company. Sageworth Trust Co bought a new stake in shares of Medtronic in the first quarter worth $26,000. Syverson Strege & Co grew its holdings in shares of Medtronic by 52.9% in the fourth quarter. Syverson Strege & Co now owns 341 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 118 shares during the period. Laurel Wealth Advisors LLC grew its holdings in shares of Medtronic by 250.0% in the first quarter. Laurel Wealth Advisors LLC now owns 350 shares of the medical technology company’s stock worth $28,000 after acquiring an additional 250 shares during the period. Trivant Custom Portfolio Group LLC bought a new stake in Medtronic during the first quarter valued at about $31,000. Finally, Certified Advisory Corp bought a new stake in Medtronic during the first quarter valued at about $31,000. Institutional investors own 80.37% of the company’s stock.

About Medtronic

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Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiovascular Porrtfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit.