Robert W. Baird Forecasts Strong Price Appreciation for Medtronic (NYSE:MDT) Stock

Medtronic (NYSE:MDT) had its price target upped by Robert W. Baird from $90.00 to $96.00 in a research report report published on Friday morning.

MDT has been the subject of several other reports. Wells Fargo & Company lifted their price target on Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Friday, October 25th. Stifel Nicolaus lifted their price target on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Finally, UBS Group upgraded 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 report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $95.80.

Medtronic Trading Up 0.1 %

NYSE:MDT opened at $87.64 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61. Medtronic has a fifty-two week low of $74.66 and a fifty-two week high of $92.68. The stock’s 50-day moving average is $89.42 and its two-hundred day moving average is $84.82. The stock has a market cap of $112.39 billion, a PE ratio of 29.61, a price-to-earnings-growth ratio of 2.50 and a beta of 0.84.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, beating 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 13.68% and a net margin of 12.06%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.20 EPS. As a group, equities research analysts forecast that Medtronic will post 5.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Fortitude Family Office LLC acquired a new position in shares of Medtronic in the third quarter valued at $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic in the third quarter valued at $27,000. Darwin Wealth Management LLC acquired a new position in shares of Medtronic in the third quarter valued at $27,000. Lynx Investment Advisory acquired a new position in shares of Medtronic in the second quarter valued at $28,000. Finally, J. Stern & Co. LLP acquired a new position in shares of Medtronic in the third quarter valued at $30,000. 82.06% of the stock is owned by institutional investors.

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.