Medtronic (NYSE:MDT) Given New $87.00 Price Target at Stifel Nicolaus

Medtronic (NYSE:MDT) had its price target boosted by Stifel Nicolaus from $85.00 to $87.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the medical technology company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 1.90% from the company’s current price.

Other equities research analysts have also issued reports about the stock. The Goldman Sachs Group initiated coverage on shares of Medtronic in a report on Thursday, May 30th. They set a “sell” rating and a $83.00 target price on the stock. Truist Financial reduced their price objective on Medtronic from $88.00 to $85.00 and set a “hold” rating on the stock in a research note on Tuesday, July 16th. UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. Oppenheimer increased their price target on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday. Finally, Citigroup decreased their price objective on Medtronic from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and an average target price of $91.55.

Medtronic Stock Performance

Shares of MDT stock opened at $85.38 on Wednesday. Medtronic has a one year low of $68.84 and a one year high of $89.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.03. The firm’s 50 day moving average price is $80.10 and its 200-day moving average price is $82.27. The firm has a market cap of $109.48 billion, a P/E ratio of 31.05, a P/E/G ratio of 2.35 and a beta of 0.82.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.20 by $0.03. The business had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the business posted $1.20 earnings per share. As a group, equities research analysts predict that Medtronic will post 5.44 EPS for the current year.

Insider Buying and Selling

In other Medtronic news, CEO Geoffrey Martha sold 19,113 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $83.77, for a total value of $1,601,096.01. Following the completion of the sale, the chief executive officer now owns 143,348 shares in the company, valued at $12,008,261.96. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.30% of the stock is currently owned by company insiders.

Institutional Trading of Medtronic

A number of large investors have recently bought and sold shares of MDT. International Assets Investment Management LLC increased its position in Medtronic by 2.5% in the 4th quarter. International Assets Investment Management LLC now owns 12,607 shares of the medical technology company’s stock valued at $1,039,000 after acquiring an additional 302 shares during the period. Tennessee Valley Asset Management Partners acquired a new stake in shares of Medtronic during the fourth quarter worth $60,000. RWA Wealth Partners LLC lifted its holdings in shares of Medtronic by 85.0% during the fourth quarter. RWA Wealth Partners LLC now owns 11,261 shares of the medical technology company’s stock worth $928,000 after purchasing an additional 5,174 shares during the period. Foster & Motley Inc. increased its stake in Medtronic by 83.3% in the 4th quarter. Foster & Motley Inc. now owns 15,969 shares of the medical technology company’s stock valued at $1,316,000 after buying an additional 7,259 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in Medtronic in the fourth quarter valued at about $451,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Company Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.