Medtronic PLC (NYSE:MDT) had its price target dropped by research analysts at Stifel Nicolaus from $91.00 to $81.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has a “hold” rating on the medical technology company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 10.05% from the stock’s previous close.

MDT has been the topic of a number of other reports. Vetr upgraded Medtronic PLC from a “buy” rating to a “strong-buy” rating and set a $90.83 target price on the stock in a research note on Tuesday, November 1st. Deutsche Bank AG reiterated a “buy” rating on shares of Medtronic PLC in a research note on Monday, October 31st. Zacks Investment Research upgraded Medtronic PLC from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research note on Wednesday, October 26th. Credit Suisse Group AG reiterated an “outperform” rating and issued a $92.00 target price on shares of Medtronic PLC in a research note 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 research note on Tuesday, August 23rd. Seven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $89.31.

Analyst Recommendations for Medtronic PLC (NYSE:MDT)

Shares of Medtronic PLC (NYSE:MDT) traded up 1.5440% on Wednesday, reaching $74.7364. The company had a trading volume of 3,413,316 shares. The stock has a market cap of $103.28 billion, a PE ratio of 29.0803 and a beta of 1.01. Medtronic PLC has a 12 month low of $71.03 and a 12 month high of $89.27. The stock has a 50-day moving average price of $82.54 and a 200-day moving average price of $84.78.

Medtronic PLC (NYSE:MDT) last posted its earnings results on Tuesday, November 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. The company had revenue of $7.35 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the business posted $1.03 earnings per share. Analysts predict that Medtronic PLC will post $4.66 earnings per share for the current fiscal year.

In related news, Director Kendall J. Powell sold 7,907 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $85.45, for a total value of $675,653.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the sale, the executive vice president now owns 168,192 shares of the company’s stock, valued at $14,632,704. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Large investors have recently bought and sold shares of the company. Exxonmobil Investment Management Inc. TX raised its stake in Medtronic PLC by 6.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 363,984 shares of the medical technology company’s stock valued at $31,583,000 after buying an additional 21,619 shares during the period. LVM Capital Management Ltd. MI bought a new stake in Medtronic PLC during the second quarter valued at $217,000. Thompson Rubinstein Investment Management Inc. OR raised its stake in Medtronic PLC by 1.3% in the second quarter. Thompson Rubinstein Investment Management Inc. OR now owns 50,693 shares of the medical technology company’s stock valued at $4,399,000 after buying an additional 665 shares during the period. Moreno Evelyn V raised its stake in Medtronic PLC by 1.3% in the second quarter. Moreno Evelyn V now owns 70,520 shares of the medical technology company’s stock valued at $6,119,000 after buying an additional 912 shares during the period. Finally, Rosenbaum Jay D. raised its stake in Medtronic PLC by 5.7% in the second quarter. Rosenbaum Jay D. now owns 15,225 shares of the medical technology company’s stock valued at $1,321,000 after buying an additional 815 shares during the period. Hedge funds and other institutional investors own 81.25% of the company’s stock.

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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.

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