Medtronic (MDT) PT Raised to $96.00

Medtronic (NYSE:MDT) had its price objective lifted by Piper Jaffray Companies to $96.00 in a research report issued on Friday. The brokerage currently has an “overweight” rating on the medical technology company’s stock. Piper Jaffray Companies’ target price indicates a potential upside of 10.36% from the stock’s previous close.

A number of other equities research analysts also recently commented on the stock. Morgan Stanley lifted their target price on shares of Medtronic from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday. Oppenheimer reaffirmed a “buy” rating on shares of Medtronic in a research report on Thursday. TheStreet raised shares of Medtronic from a “c+” rating to a “b-” rating in a research report on Monday. SunTrust Banks lifted their target price on shares of Medtronic to $96.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Citigroup reaffirmed a “buy” rating and issued a $93.00 target price (down previously from $100.00) on shares of Medtronic in a research report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $92.18.

Shares of MDT opened at $86.99 on Friday. The company has a market cap of $115.56 billion, a P/E ratio of 18.91, a PEG ratio of 2.34 and a beta of 0.94. The company has a quick ratio of 2.09, a current ratio of 2.43 and a debt-to-equity ratio of 0.51. Medtronic has a twelve month low of $76.41 and a twelve month high of $89.72.



Medtronic (NYSE:MDT) last announced its quarterly earnings results on Thursday, May 24th. The medical technology company reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.03. The company had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8 billion. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.33 earnings per share. sell-side analysts anticipate that Medtronic will post 4.74 EPS for the current fiscal year.

In related news, Director James T. Lenehan sold 1,306 shares of Medtronic stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $83.56, for a total transaction of $109,129.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Carol A. Surface sold 24,479 shares of Medtronic stock in a transaction on Monday, March 5th. The shares were sold at an average price of $78.18, for a total transaction of $1,913,768.22. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BDO Wealth Advisors LLC lifted its stake in shares of Medtronic by 99.6% during the 1st quarter. BDO Wealth Advisors LLC now owns 1,427 shares of the medical technology company’s stock valued at $115,000 after buying an additional 712 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in shares of Medtronic by 20.2% during the 1st quarter. Summit Trail Advisors LLC now owns 15,360 shares of the medical technology company’s stock valued at $819,000 after buying an additional 2,586 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in shares of Medtronic by 2.6% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 56,914 shares of the medical technology company’s stock valued at $4,566,000 after buying an additional 1,420 shares in the last quarter. Levin Capital Strategies L.P. lifted its stake in shares of Medtronic by 31.3% during the 1st quarter. Levin Capital Strategies L.P. now owns 33,750 shares of the medical technology company’s stock valued at $2,707,000 after buying an additional 8,050 shares in the last quarter. Finally, Rational Advisors LLC lifted its stake in shares of Medtronic by 20.9% during the 1st quarter. Rational Advisors LLC now owns 6,530 shares of the medical technology company’s stock valued at $524,000 after buying an additional 1,130 shares in the last quarter. Institutional investors own 80.37% of the company’s stock.

About Medtronic

Medtronic plc manufactures and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. The company's Cardiac and Vascular Group segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; diagnostics and monitoring devices; mechanical circulatory support, TYRX, and AF products; and remote monitoring and patient-centered software.

Analyst Recommendations for Medtronic (NYSE:MDT)

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