Medtronic (NYSE:MDT) Price Target Raised to $109.00 at Barclays

Medtronic (NYSE:MDT) had its price target boosted by Barclays from $105.00 to $109.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the medical technology company’s stock.

A number of other equities research analysts also recently issued reports on the stock. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and lifted their price target for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. Robert W. Baird decreased their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Stifel Nicolaus raised their price target on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. Wells Fargo & Company cut their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Finally, Citigroup increased their price objective on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $95.27.

Medtronic Stock Down 0.1 %

Medtronic stock opened at $85.67 on Tuesday. The stock’s 50 day moving average price is $88.85 and its 200 day moving average price is $84.95. Medtronic has a 1-year low of $75.96 and a 1-year high of $92.68. The company has a market cap of $109.87 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 2.44 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 EPS. On average, sell-side analysts predict that Medtronic will post 5.46 EPS for the current fiscal year.

Institutional Trading of Medtronic

Hedge funds have recently added to or reduced their stakes in the business. Fortitude Family Office LLC purchased a new stake in Medtronic in the third quarter valued at approximately $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Medtronic during the 3rd quarter valued at $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic during the 3rd quarter worth $27,000. Lynx Investment Advisory purchased a new position in shares of Medtronic in the 2nd quarter worth $28,000. Finally, J. Stern & Co. LLP acquired a new position in Medtronic in the third quarter valued at $30,000. 82.06% of the stock is owned by institutional investors and hedge funds.

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.