Medtronic PLC (NYSE:MDT) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday. They presently have a $91.28 price target on the medical technology company’s stock. Vetr‘s price target indicates a potential upside of 20.87% from the stock’s previous close.
Several other analysts also recently weighed in on the company. Zacks Investment Research downgraded Medtronic PLC from a “buy” rating to a “hold” rating in a research note on Friday, November 11th. Credit Suisse Group AG restated an “outperform” rating and issued a $92.00 price target on shares of Medtronic PLC in a research note on Thursday, August 25th. Citigroup Inc. started coverage on Medtronic PLC in a research note on Tuesday, August 23rd. They issued a “buy” rating and a $102.00 price target on the stock. Jefferies Group restated a “buy” rating and issued a $93.00 price target on shares of Medtronic PLC in a research note on Thursday, August 25th. Finally, Needham & Company LLC upped their price target on Medtronic PLC from $93.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, August 25th. Seven 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 a consensus price target of $88.47.
Shares of Medtronic PLC (NYSE:MDT) traded down 0.34% during mid-day trading on Monday, hitting $75.52. The company’s stock had a trading volume of 3,045,998 shares. The company has a market cap of $104.36 billion, a price-to-earnings ratio of 29.39 and a beta of 1.01. Medtronic PLC has a 52-week low of $71.03 and a 52-week high of $89.27. The stock’s 50 day moving average price is $82.26 and its 200 day moving average price is $84.71.
Medtronic PLC (NYSE:MDT) last posted its earnings results on Tuesday, November 22nd. The medical technology company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates 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 had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $7.46 billion. During the same quarter in the prior year, the business earned $1.03 EPS. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. Equities analysts forecast that Medtronic PLC will post $4.63 EPS for the current year.
In related news, CEO Omar Ishrak sold 61,925 shares of Medtronic PLC stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $84.93, for a total value of $5,259,290.25. Following the completion of the transaction, the chief executive officer now owns 565,916 shares in the company, valued at $48,063,245.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James T. Lenehan purchased 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was bought at an average price of $73.27 per share, with a total value of $146,540.00. The disclosure for this purchase can be found here. 0.25% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MDT. Moreno Evelyn V raised its position in Medtronic PLC by 1.3% in the second quarter. Moreno Evelyn V now owns 70,520 shares of the medical technology company’s stock valued at $6,119,000 after buying an additional 912 shares in the last quarter. Rosenbaum Jay D. increased its stake in shares of Medtronic PLC by 5.7% in the second quarter. Rosenbaum Jay D. now owns 15,225 shares of the medical technology company’s stock valued at $1,321,000 after buying an additional 815 shares during the last quarter. Howland Capital Management LLC increased its stake in shares of Medtronic PLC by 1.2% in the second quarter. Howland Capital Management LLC now owns 178,789 shares of the medical technology company’s stock valued at $15,514,000 after buying an additional 2,139 shares during the last quarter. Deane Retirement Strategies Inc. purchased a new stake in shares of Medtronic PLC during the second quarter valued at about $2,505,000. Finally, Kistler Tiffany Companies LLC increased its stake in shares of Medtronic PLC by 2.1% in the second quarter. Kistler Tiffany Companies LLC now owns 1,776 shares of the medical technology company’s stock valued at $154,000 after buying an additional 36 shares during the last quarter. Institutional investors own 81.25% of the company’s stock.
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.