Medtronic PLC (NYSE:MDT)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research note issued to investors on Tuesday. They currently have a $84.00 target price on the medical technology company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 14.13% from the stock’s current price.

The analysts wrote, “F2Q17 revenue missed and EPS beat consensus (due to a tax benefit) and MDT lowered its FY17 guidance. Organic selling-day adjusted revenue growth slowed to 2.2% CC vs. 5.3% CC in F1Q17 with new products adding ~195 bps, emerging markets adding ~120 bps, and services & solutions added ~20 bps. The revenue shortfall was mainly due to a lull in new product launches in certain businesses including Cardiac & Vascular and Diabetes. Operating margin was better than expected and up 150 bps Y/Y CC.””

A number of other equities analysts have also issued reports on the company. Vetr upgraded Medtronic PLC from a “buy” rating to a “strong-buy” rating and set a $91.28 target price for the company in a research note on Tuesday, November 15th. Zacks Investment Research lowered Medtronic PLC from a “buy” rating to a “hold” rating in a research note on Friday, November 11th. Credit Suisse Group AG restated an “outperform” rating and issued a $92.00 target price on shares of Medtronic PLC in a research note on Thursday, August 25th. Citigroup Inc. started coverage on Medtronic PLC in a research note on Tuesday, August 23rd. They issued a “buy” rating and a $102.00 target price for the company. Finally, Jefferies Group restated a “buy” rating and issued a $93.00 target price on shares of Medtronic PLC in a research note on Thursday, August 25th. Six analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Medtronic PLC currently has a consensus rating of “Buy” and an average price target of $89.49.

Analyst Recommendations for Medtronic PLC (NYSE:MDT)

Medtronic PLC (NYSE:MDT) traded down 8.66% during midday trading on Tuesday, hitting $73.60. The company had a trading volume of 31,138,491 shares. The company has a market capitalization of $101.71 billion, a P/E ratio of 28.64 and a beta of 1.01. The stock has a 50 day moving average price of $82.90 and a 200 day moving average price of $84.82. Medtronic PLC has a 52 week low of $71.03 and a 52 week high of $89.27.

Medtronic PLC (NYSE:MDT) last issued its earnings results on Tuesday, November 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.01. The company earned $7.35 billion during the quarter, compared to analyst estimates of $7.46 billion. Medtronic PLC had a return on equity of 12.06% and a net margin of 12.70%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. Equities analysts forecast that Medtronic PLC will post $4.66 earnings per share for the current fiscal year.

In other Medtronic PLC news, EVP Bryan C. Hanson sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $87.00, for a total value of $1,305,000.00. Following the sale, the executive vice president now owns 168,192 shares of the company’s stock, valued at $14,632,704. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Richard Kuntz sold 25,199 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $86.67, for a total value of $2,183,997.33. Following the completion of the sale, the vice president now directly owns 149,425 shares in the company, valued at approximately $12,950,664.75. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Proficio Capital Partners LLC raised its stake in shares of Medtronic PLC by 0.5% in the third quarter. Proficio Capital Partners LLC now owns 1,505 shares of the medical technology company’s stock worth $130,000 after buying an additional 8 shares during the last quarter. Hudock Capital Group LLC raised its stake in shares of Medtronic PLC by 0.5% in the second quarter. Hudock Capital Group LLC now owns 2,150 shares of the medical technology company’s stock worth $186,000 after buying an additional 10 shares during the last quarter. Jackson Grant Investment Advisers Inc. raised its stake in shares of Medtronic PLC by 0.3% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 3,836 shares of the medical technology company’s stock worth $331,000 after buying an additional 12 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Medtronic PLC by 1.4% in the third quarter. Parkside Financial Bank & Trust now owns 2,105 shares of the medical technology company’s stock worth $182,000 after buying an additional 30 shares during the last quarter. Finally, Moody National Bank Trust Division raised its stake in shares of Medtronic PLC by 0.5% in the second quarter. Moody National Bank Trust Division now owns 6,953 shares of the medical technology company’s stock worth $603,000 after buying an additional 35 shares during the last quarter. 81.25% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION NOTICE: “Medtronic PLC (MDT) Given “Buy” Rating at Needham & Company LLC” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright legislation. The original version of this article can be read at https://www.thecerbatgem.com/2016/11/22/medtronic-plc-mdt-given-buy-rating-at-needham-company-llc.html.

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

Receive News & Stock Ratings for Medtronic PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic PLC and related stocks with our FREE daily email newsletter.