Todays Report: Today, Medtronic PLC (MDT) Given New $81.00 Price Target at Stifel Nicolaus

Today, Medtronic PLC (MDT) Given New $81.00 Price Target at Stifel Nicolaus

Medtronic PLC (NYSE:MDT) had its price target lowered by Stifel Nicolaus from $91.00 to $81.00 in a research report sent to investors on Wednesday morning. The firm currently has a hold rating on the medical technology company’s stock.

A number of other equities research analysts also recently weighed in on MDT. Zacks Investment Research raised Medtronic PLC from a hold rating to a buy rating and set a $97.00 price target for the company in a research note on Tuesday, August 9th. Citigroup Inc. began coverage on Medtronic PLC in a research note on Tuesday, August 23rd. They set a buy rating and a $102.00 price target for the company. Cowen and Company set a $94.00 price target on Medtronic PLC and gave the stock a buy rating in a research note on Tuesday, August 23rd. Jefferies Group reaffirmed a buy rating and set a $93.00 price target on shares of Medtronic PLC in a research note on Thursday, August 25th. Finally, Credit Suisse Group AG reaffirmed an outperform rating and set a $92.00 price target on shares of Medtronic PLC in a research note on Thursday, August 25th. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $88.19.

Medtronic PLC (NYSE:MDT) opened at 73.99 on Wednesday. The stock has a market capitalization of $102.25 billion, a PE ratio of 28.79 and a beta of 1.01. Medtronic PLC has a 1-year low of $71.03 and a 1-year high of $89.27. The stock’s 50 day moving average price is $81.50 and its 200 day moving average price is $84.68.

Medtronic PLC (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 22nd. The medical technology company reported $1.12 EPS for the quarter, topping the Zacks’ 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 firm earned $7.35 billion during the quarter, compared to analyst estimates of $7.46 billion. During the same period last year, the company posted $1.03 EPS. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities research analysts forecast that Medtronic PLC will post $4.63 earnings per share for the current year.

In related news, Director James T. Lenehan purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were acquired at an average price of $73.27 per share, with a total value of $146,540.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Omar Ishrak sold 61,925 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $84.93, for a total value of $5,259,290.25. Following the completion of the sale, the chief executive officer now directly owns 565,916 shares in the company, valued at approximately $48,063,245.88. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in MDT. Beach Investment Counsel Inc. PA raised its position in 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 position in 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 position in 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 position in 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 position in 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. 80.95% of the stock is currently owned by institutional investors and hedge funds.

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