Medtronic PLC (MDT) Given New $84.00 Price Target at Oppenheimer Holdings Inc.
Medtronic PLC (NYSE:MDT) had its price target reduced by Oppenheimer Holdings Inc. from $94.00 to $84.00 in a research report sent to investors on Wednesday. Oppenheimer Holdings Inc. currently has an outperform rating on the medical technology company’s stock.
Other equities analysts have also issued reports about the stock. Jefferies Group reiterated a buy rating and issued a $93.00 price target on shares of Medtronic PLC in a research report on Thursday, August 25th. Cowen and Company set a $94.00 price target on shares of Medtronic PLC and gave the stock a buy rating in a research report on Tuesday, August 23rd. Citigroup Inc. started coverage on shares of Medtronic PLC in a research report on Tuesday, August 23rd. They issued a buy rating and a $102.00 price target for the company. Zacks Investment Research upgraded shares of Medtronic PLC from a hold rating to a buy rating and set a $97.00 price target for the company in a research report on Tuesday, August 9th. Finally, Deutsche Bank AG reiterated a buy rating on shares of Medtronic PLC in a research report on Monday, October 31st. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Medtronic PLC has a consensus rating of Buy and a consensus target price of $88.47.
Shares of Medtronic PLC (NYSE:MDT) traded up 2.96% during trading on Wednesday, reaching $75.78. 14,397,357 shares of the company were exchanged. The stock’s 50 day moving average is $82.26 and its 200 day moving average is $84.71. Medtronic PLC has a 1-year low of $71.03 and a 1-year high of $89.27. The company has a market capitalization of $104.72 billion, a price-to-earnings ratio of 29.49 and a beta of 1.01.
Medtronic PLC (NYSE:MDT) last announced its earnings results on Tuesday, November 22nd. The medical technology company reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.01. Medtronic PLC had a net margin of 14.63% and a return on equity of 12.30%. The business earned $7.35 billion during the quarter, compared to analysts’ expectations of $7.46 billion. During the same period in the prior year, the company earned $1.03 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. Equities analysts anticipate that Medtronic PLC will post $4.63 earnings per share for the current year.
In other news, Director James T. Lenehan purchased 2,000 shares of the stock in a transaction dated Wednesday, November 23rd. The shares were purchased at an average price of $73.27 per share, with a total value of $146,540.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Bryan C. Hanson sold 15,000 shares of the business’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $87.00, for a total transaction of $1,305,000.00. Following the transaction, the executive vice president now directly owns 168,192 shares in the company, valued at approximately $14,632,704. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Krilogy Financial LLC boosted its position in shares of Medtronic PLC by 35.2% in the second quarter. Krilogy Financial LLC now owns 1,163 shares of the medical technology company’s stock valued at $101,000 after buying an additional 303 shares during the last quarter. Motco boosted its position in shares of Medtronic PLC by 70.9% in the third quarter. Motco now owns 1,350 shares of the medical technology company’s stock valued at $117,000 after buying an additional 560 shares during the last quarter. TLP Group LLC purchased a new position in shares of Medtronic PLC during the third quarter valued at $124,000. Birch Hill Investment Advisors LLC purchased a new position in shares of Medtronic PLC during the third quarter valued at $128,000. Finally, Proficio Capital Partners LLC boosted its position 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 valued at $130,000 after buying an additional 8 shares during the last quarter. 81.25% of the stock is currently owned by hedge funds and other institutional investors.
Medtronic PLC Company Profile
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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