Medtronic (NYSE:MDT) Given New $97.00 Price Target at Sanford C. Bernstein

Medtronic (NYSE:MDT) had its price objective upped by Sanford C. Bernstein from $96.00 to $97.00 in a research report released on Wednesday,Benzinga reports. Sanford C. Bernstein currently has an outperform rating on the medical technology company’s stock.

MDT has been the subject of a number of other research reports. Piper Sandler boosted their target price on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Evercore ISI raised their target price on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and boosted their target price for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. Stifel Nicolaus increased their price target on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Finally, Robert W. Baird cut their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Trading Up 1.7 %

NYSE:MDT opened at $86.21 on Wednesday. The stock has a market cap of $110.56 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 2.40 and a beta of 0.84. The company has a quick ratio of 1.61, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average price is $88.99 and its 200-day moving average price is $84.89. Medtronic has a 52 week low of $75.96 and a 52 week high of $92.68.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period last year, the business posted $1.25 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts forecast that Medtronic will post 5.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Medtronic

A number of hedge funds have recently made changes to their positions in the business. State Street Corp grew its holdings in Medtronic by 0.9% during the 3rd quarter. State Street Corp now owns 60,731,367 shares of the medical technology company’s stock valued at $5,509,155,000 after buying an additional 520,027 shares in the last quarter. Pzena Investment Management LLC grew its stake in Medtronic by 3.3% during the third quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock valued at $772,727,000 after acquiring an additional 275,870 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Medtronic by 436.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock valued at $661,125,000 after acquiring an additional 5,975,110 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Medtronic by 7.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock worth $560,494,000 after purchasing an additional 515,751 shares in the last quarter. Finally, Longview Partners Guernsey LTD boosted its holdings in shares of Medtronic by 2.3% during the 1st quarter. Longview Partners Guernsey LTD now owns 6,635,054 shares of the medical technology company’s stock valued at $578,245,000 after purchasing an additional 147,737 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Company Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.