Medtronic (NYSE:MDT) Price Target Cut to $93.00 by Analysts at Robert W. Baird

Medtronic (NYSE:MDT) had its price objective reduced by research analysts at Robert W. Baird from $96.00 to $93.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the medical technology company’s stock. Robert W. Baird’s price target would suggest a potential upside of 9.79% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Barclays raised their price target on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Stifel Nicolaus raised their price target on shares of Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Evercore ISI raised their price target on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and raised their price target for the company from $76.00 to $90.00 in a report on Thursday, August 15th. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Monday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $95.19.

Medtronic Stock Up 0.7 %

Shares of NYSE:MDT opened at $84.71 on Wednesday. Medtronic has a 52 week low of $75.96 and a 52 week high of $92.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.61 and a current ratio of 1.84. The company has a market cap of $108.63 billion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 2.42 and a beta of 0.84. The firm has a 50 day simple moving average of $89.07 and a 200 day simple moving average of $84.84.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. As a group, research analysts expect that Medtronic will post 5.46 earnings per share for the current year.

Hedge Funds Weigh In On Medtronic

A number of large investors have recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of Medtronic by 0.9% in the 3rd quarter. State Street Corp now owns 60,731,367 shares of the medical technology company’s stock valued at $5,509,155,000 after purchasing an additional 520,027 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Medtronic by 3.3% in the 3rd quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock valued at $772,727,000 after purchasing an additional 275,870 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Medtronic by 436.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock valued at $661,125,000 after purchasing an additional 5,975,110 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Medtronic by 7.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock valued at $560,494,000 after purchasing an additional 515,751 shares in the last quarter. Finally, Longview Partners Guernsey LTD boosted its holdings in shares of Medtronic by 2.3% in the 1st quarter. Longview Partners Guernsey LTD now owns 6,635,054 shares of the medical technology company’s stock valued at $578,245,000 after purchasing an additional 147,737 shares in the last quarter. Institutional investors 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.