Medtronic PLC (NYSE:MDT) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday. They currently have a $91.28 target price on the medical technology company’s stock. Vetr‘s price target indicates a potential upside of 12.79% from the company’s previous close.

Several other research firms have also recently commented on MDT. Zacks Investment Research raised Medtronic PLC from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a report on Tuesday, August 9th. Deutsche Bank AG reissued a “buy” rating on shares of Medtronic PLC in a report on Monday, October 31st. Citigroup Inc. assumed coverage on Medtronic PLC in a report on Tuesday, August 23rd. They issued a “buy” rating and a $102.00 target price for the company. Credit Suisse Group AG reissued an “outperform” rating and issued a $92.00 target price on shares of Medtronic PLC in a report on Thursday, August 25th. Finally, Cowen and Company set a $94.00 target price on Medtronic PLC and gave the company a “buy” rating in a report on Tuesday, August 23rd. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Medtronic PLC presently has an average rating of “Buy” and an average price target of $90.04.

Analyst Recommendations for Medtronic PLC (NYSE:MDT)

Shares of Medtronic PLC (NYSE:MDT) opened at 80.93 on Monday. The company has a 50-day moving average price of $83.91 and a 200-day moving average price of $84.69. The stock has a market cap of $111.84 billion, a price-to-earnings ratio of 31.49 and a beta of 1.01. Medtronic PLC has a 52 week low of $71.03 and a 52 week high of $89.27.

Medtronic PLC (NYSE:MDT) last posted its earnings results on Thursday, August 25th. The medical technology company reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.02. Medtronic PLC had a return on equity of 12.06% and a net margin of 12.70%. The company had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the previous year, the business earned $1.02 earnings per share. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities analysts anticipate that Medtronic PLC will post $4.66 EPS for the current year.

In related news, CEO Omar Ishrak sold 61,925 shares of Medtronic PLC stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $84.93, for a total value of $5,259,290.25. Following the completion of the transaction, the chief executive officer now directly owns 565,916 shares in the company, valued at $48,063,245.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Kuntz sold 25,199 shares of Medtronic PLC stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $86.67, for a total value of $2,183,997.33. Following the completion of the transaction, the vice president now owns 149,425 shares of the company’s stock, valued at $12,950,664.75. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Medtronic PLC by 1.6% in the second quarter. Vanguard Group Inc. now owns 95,677,703 shares of the medical technology company’s stock worth $8,301,954,000 after buying an additional 1,489,823 shares during the period. FMR LLC boosted its stake in Medtronic PLC by 0.3% in the second quarter. FMR LLC now owns 76,043,424 shares of the medical technology company’s stock worth $6,598,288,000 after buying an additional 264,681 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Medtronic PLC by 1.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 49,795,064 shares of the medical technology company’s stock worth $4,320,717,000 after buying an additional 930,313 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Medtronic PLC by 0.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 36,405,337 shares of the medical technology company’s stock worth $3,145,421,000 after buying an additional 126,685 shares during the period. Finally, BlackRock Fund Advisors boosted its stake in Medtronic PLC by 3.2% in the third quarter. BlackRock Fund Advisors now owns 21,227,474 shares of the medical technology company’s stock worth $1,834,054,000 after buying an additional 667,198 shares during the period. Institutional investors own 82.21% of the company’s stock.

About Medtronic PLC

Medtronic plc (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.

5 Day Chart for NYSE:MDT

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