Todays Report: Today, Vetr Inc. Downgraded Medtronic PLC (MDT) to Buy

Today, Vetr Inc. Downgraded Medtronic PLC (MDT) to Buy

Vetr downgraded shares of Medtronic PLC (NYSE:MDT) from a strong-buy rating to a buy rating in a research report sent to investors on Monday. They currently have $91.28 price objective on the medical technology company’s stock.

Several other research analysts have also weighed in on MDT. Zacks Investment Research upgraded Medtronic PLC from a hold rating to a buy rating and set a $97.00 price objective for the company in a research report on Tuesday, August 9th. Deutsche Bank AG reiterated a buy rating on shares of Medtronic PLC in a research report on Monday, October 31st. Citigroup Inc. assumed coverage on Medtronic PLC in a research report on Tuesday, August 23rd. They issued a buy rating and a $102.00 price objective for the company. Credit Suisse Group AG reiterated an outperform rating and issued a $92.00 price objective on shares of Medtronic PLC in a research report on Thursday, August 25th. Finally, Cowen and Company set a $94.00 price objective on Medtronic PLC and gave the stock a buy rating in a research report on Tuesday, August 23rd. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $88.47.

Shares of Medtronic PLC (NYSE:MDT) opened at 75.78 on Monday. The firm’s 50-day moving average price is $82.26 and its 200-day moving average price is $84.71. Medtronic PLC has a 12 month low of $71.03 and a 12 month high of $89.27. The company has a market capitalization of $104.72 billion, a price-to-earnings ratio of 29.49 and a beta of 1.01.

Medtronic PLC (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 22nd. The medical technology company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.11 by $0.01. Medtronic PLC had a return on equity of 12.30% and a net margin of 14.63%. The firm earned $7.35 billion during the quarter, compared to analysts’ expectations of $7.46 billion. During the same quarter last year, the firm earned $1.03 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. Equities research analysts expect that Medtronic PLC will post $4.63 EPS for the current year.

In related news, Director James T. Lenehan purchased 2,000 shares of the stock in a transaction that occurred on Wednesday, November 23rd. The shares were purchased at an average price of $73.27 per share, with a total value of $146,540.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Richard Kuntz sold 25,199 shares of the firm’s stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $86.67, for a total value of $2,183,997.33. Following the transaction, the vice president now directly owns 149,425 shares in the company, valued at approximately $12,950,664.75. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Beach Investment Counsel Inc. PA raised its stake in shares of Medtronic PLC by 2.0% in the second quarter. Beach Investment Counsel Inc. PA now owns 282,436 shares of the medical technology company’s stock worth $24,507,000 after buying an additional 5,510 shares in the last quarter. Huntington National Bank raised its stake in shares of Medtronic PLC by 10.9% in the second quarter. Huntington National Bank now owns 227,847 shares of the medical technology company’s stock worth $19,769,000 after buying an additional 22,309 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Medtronic PLC by 5.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 123,450 shares of the medical technology company’s stock worth $10,713,000 after buying an additional 5,980 shares in the last quarter. Clarkston Capital Partners LLC raised its stake in shares of Medtronic PLC by 3.3% in the second quarter. Clarkston Capital Partners LLC now owns 120,828 shares of the medical technology company’s stock worth $10,484,000 after buying an additional 3,840 shares in the last quarter. Finally, Montag & Caldwell LLC raised its stake in shares of Medtronic PLC by 16.3% in the second quarter. Montag & Caldwell LLC now owns 2,318,700 shares of the medical technology company’s stock worth $201,194,000 after buying an additional 324,802 shares in the last quarter. 81.25% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic PLC 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.

Related posts

Leave a Comment