Trading Report: Today: Medtronic PLC (MDT) Rating Reiterate by Evercore ISI

Today: Medtronic PLC (MDT) Rating Reiterate by Evercore ISI

Medtronic PLC (NYSE:MDT)‘s stock had its “buy” rating restated by equities researchers at Evercore ISI in a report released on Monday. They presently have a $80.00 target price on the medical technology company’s stock, down from their prior target price of $94.00. Evercore ISI’s target price suggests a potential upside of 5.93% from the stock’s previous close.

MDT has been the topic of several other research reports. Vetr raised shares of Medtronic PLC from a “buy” rating to a “strong-buy” rating and set a $90.83 target price on the stock in a research report on Tuesday, November 1st. Deutsche Bank AG reissued a “buy” rating on shares of Medtronic PLC in a research report on Monday, October 31st. Zacks Investment Research raised shares of Medtronic PLC from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research report on Wednesday, October 26th. Oppenheimer Holdings Inc. set a $94.00 target price on shares of Medtronic PLC and gave the stock a “buy” rating in a research report on Tuesday, November 22nd. Finally, Credit Suisse Group AG reissued an “outperform” rating and set a $92.00 target price on shares of Medtronic PLC in a research report on Thursday, August 25th. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Medtronic PLC has a consensus rating of “Buy” and an average price target of $88.19.

Shares of Medtronic PLC (NYSE:MDT) opened at 75.52 on Monday. Medtronic PLC has a 12 month low of $71.03 and a 12 month high of $89.27. The company’s 50-day moving average price is $81.84 and its 200-day moving average price is $84.68. The firm has a market cap of $104.36 billion, a P/E ratio of 29.39 and a beta of 1.01.

Medtronic PLC (NYSE:MDT) last posted its earnings results on Tuesday, November 22nd. The medical technology company reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.01. Medtronic PLC had a net margin of 14.63% and a return on equity of 12.36%. The firm had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.46 billion. During the same quarter last year, the firm earned $1.03 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, analysts predict that Medtronic PLC will post $4.63 EPS for the current year.

In related news, Director Kendall J. Powell sold 7,907 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $85.45, for a total transaction of $675,653.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Omar Ishrak sold 61,925 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $84.93, for a total transaction of $5,259,290.25. Following the transaction, the chief executive officer now owns 565,916 shares in the company, valued at approximately $48,063,245.88. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Several institutional investors have recently made changes to their positions in MDT. Krilogy Financial LLC boosted its position in shares of Medtronic PLC by 35.2% in the second quarter. Krilogy Financial LLC now owns 1,163 shares of the medical technology company’s stock valued at $101,000 after buying an additional 303 shares in the last quarter. Motco boosted its position in shares of Medtronic PLC by 70.9% in the third quarter. Motco now owns 1,350 shares of the medical technology company’s stock valued at $117,000 after buying an additional 560 shares in the last quarter. TLP Group LLC bought a new position in shares of Medtronic PLC during the third quarter valued at about $124,000. Birch Hill Investment Advisors LLC bought a new position in shares of Medtronic PLC during the third quarter valued at about $128,000. Finally, Proficio Capital Partners LLC boosted its position in shares of Medtronic PLC by 0.5% in the third quarter. Proficio Capital Partners LLC now owns 1,505 shares of the medical technology company’s stock valued at $130,000 after buying an additional 8 shares in the last quarter. Institutional investors own 80.95% of the company’s stock.

Medtronic PLC Company Profile

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