Medtronic (NYSE:MDT) had its price target increased by research analysts at BMO Capital Markets to $94.00 in a report released on Tuesday, The Fly reports. The brokerage presently has an “outperform” rating on the medical technology company’s stock. BMO Capital Markets’ price target suggests a potential upside of 12.57% from the stock’s current price.
Several other equities research analysts have also commented on the company. Zacks Investment Research lowered Medtronic from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Wells Fargo & Company lowered Medtronic from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $93.00 to $83.00 in a research note on Monday, October 9th. Stifel Nicolaus reduced their target price on Medtronic from $91.00 to $83.00 and set a “hold” rating on the stock in a research note on Monday, October 9th. SunTrust Banks reaffirmed a “buy” rating and issued a $96.00 target price on shares of Medtronic in a research note on Friday, November 3rd. Finally, Leerink Swann reaffirmed a “market perform” rating and issued a $85.00 target price (down previously from $88.00) on shares of Medtronic in a research note on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $88.57.
Medtronic (NYSE:MDT) traded up $1.67 during midday trading on Tuesday, reaching $83.50. The company’s stock had a trading volume of 9,810,000 shares, compared to its average volume of 5,610,000. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 2.05. Medtronic has a 52 week low of $69.35 and a 52 week high of $89.72. The firm has a market cap of $113,020.00, a PE ratio of 18.00, a price-to-earnings-growth ratio of 2.30 and a beta of 1.00.
In other news, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $78.03, for a total transaction of $1,248,480.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.31% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Hudock Capital Group LLC lifted its holdings in Medtronic by 0.5% in the second quarter. Hudock Capital Group LLC now owns 2,195 shares of the medical technology company’s stock worth $194,000 after acquiring an additional 11 shares during the last quarter. Triangle Securities Wealth Management increased its stake in shares of Medtronic by 0.3% in the second quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock valued at $390,000 after purchasing an additional 15 shares during the period. IFC Holdings Incorporated FL increased its stake in shares of Medtronic by 0.3% in the second quarter. IFC Holdings Incorporated FL now owns 5,673 shares of the medical technology company’s stock valued at $501,000 after purchasing an additional 17 shares during the period. Arcus Capital Partners LLC increased its stake in shares of Medtronic by 0.8% in the second quarter. Arcus Capital Partners LLC now owns 3,249 shares of the medical technology company’s stock valued at $288,000 after purchasing an additional 25 shares during the period. Finally, Guardian Life Insurance Co. of America increased its stake in shares of Medtronic by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 5,288 shares of the medical technology company’s stock valued at $426,000 after purchasing an additional 29 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.
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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.
