Today: Medtronic PLC (MDT) Earns Buy Rating from Evercore ISI

Today: Medtronic PLC (MDT) Earns Buy Rating from Evercore ISI

Medtronic PLC (NYSE:MDT)‘s stock had its “buy” rating reissued by Evercore ISI in a research note issued to investors on Monday. They presently have a $80.00 price objective on the medical technology company’s stock, down from their previous price objective of $94.00. Evercore ISI’s price objective would indicate a potential upside of 5.93% from the stock’s previous close.

Several other research firms also recently commented on MDT. Needham & Company LLC boosted their target price on Medtronic PLC from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, August 25th. Vetr downgraded Medtronic PLC from a “strong-buy” rating to a “buy” rating and set a $91.28 target price on the stock. in a report on Monday, November 21st. Jefferies Group reissued a “buy” rating and issued a $93.00 target price on shares of Medtronic PLC in a report on Thursday, August 25th. Stifel Nicolaus dropped their target price on Medtronic PLC from $91.00 to $81.00 and set a “hold” rating on the stock in a report on Wednesday, November 23rd. Finally, Cowen and Company set a $94.00 target price on Medtronic PLC and gave the stock a “buy” rating in a report on Tuesday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $88.19.

Medtronic PLC (NYSE:MDT) opened at 75.52 on Monday. The company has a market cap of $104.36 billion, a P/E ratio of 29.39 and a beta of 1.01. The stock’s 50 day moving average price is $81.84 and its 200 day moving average price is $84.68. Medtronic PLC has a 1-year low of $71.03 and a 1-year high of $89.27.

Medtronic PLC (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 22nd. The medical technology company reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.01. Medtronic PLC had a return on equity of 12.36% and a net margin of 14.63%. The company had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.46 billion. During the same period in the previous year, the company posted $1.03 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. On average, equities analysts anticipate that Medtronic PLC will post $4.63 earnings per share for the current fiscal year.

In other Medtronic PLC news, VP Richard Kuntz sold 17,141 shares of the company’s stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $86.70, for a total transaction of $1,486,124.70. Following the sale, the vice president now directly owns 149,425 shares in the company, valued at $12,955,147.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James T. Lenehan acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, November 23rd. The shares were bought at an average price of $73.27 per share, for a total transaction of $146,540.00. The disclosure for this purchase can be found here. Company insiders own 0.25% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Fayez Sarofim & Co. increased its stake in shares of Medtronic PLC by 0.9% in the third quarter. Fayez Sarofim & Co. now owns 69,242 shares of the medical technology company’s stock worth $5,982,000 after buying an additional 600 shares during the period. ETRADE Capital Management LLC increased its stake in shares of Medtronic PLC by 1.5% in the third quarter. ETRADE Capital Management LLC now owns 33,277 shares of the medical technology company’s stock worth $2,875,000 after buying an additional 492 shares during the period. D.A. Davidson & CO. increased its stake in shares of Medtronic PLC by 86.9% in the third quarter. D.A. Davidson & CO. now owns 72,978 shares of the medical technology company’s stock worth $6,301,000 after buying an additional 33,929 shares during the period. Whalerock Point Partners LLC bought a new stake in shares of Medtronic PLC during the third quarter worth about $263,000. Finally, Piedmont Investment Advisors LLC bought a new stake in shares of Medtronic PLC during the third quarter worth about $24,964,000. Institutional investors and hedge funds own 80.95% of the company’s stock.

Medtronic PLC Company Profile

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