Medtronic PLC (NYSE:MDT) had its price target reduced by Jefferies Group from $100.00 to $88.00 in a research report sent to investors on Wednesday. Jefferies Group currently has a buy rating on the medical technology company’s stock.

A number of other brokerages have also recently issued reports on MDT. Zacks Investment Research raised shares of Medtronic PLC from a hold rating to a buy rating and set a $97.00 price objective for the company in a research note on Tuesday, August 9th. BMO Capital Markets dropped their target price on shares of Medtronic PLC from $94.00 to $87.00 and set an outperform rating for the company in a research report on Wednesday. Deutsche Bank AG restated a buy rating on shares of Medtronic PLC in a research report on Monday, October 31st. Vetr upgraded shares of Medtronic PLC from a buy rating to a strong-buy rating and set a $90.83 target price for the company in a research report on Tuesday, November 1st. Finally, Citigroup Inc. began coverage on shares of Medtronic PLC in a research report on Tuesday, August 23rd. They set a buy rating and a $102.00 target price for the company. Seven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target 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 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 has a 1-year low of $71.03 and a 1-year high of $89.27. The stock’s 50 day moving average is $82.26 and its 200 day moving average is $84.71.

Medtronic PLC (NYSE:MDT) last announced its quarterly earnings data 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 firm earned $7.35 billion during the quarter, compared to analysts’ expectations of $7.46 billion. Medtronic PLC had a net margin of 14.63% and a return on equity of 12.30%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.03 earnings per share. Equities analysts anticipate that Medtronic PLC will post $4.63 earnings per share for the current year.

In related news, EVP Bryan C. Hanson sold 15,000 shares of Medtronic PLC stock in a transaction that occurred on Monday, August 29th. The shares were 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 directly owns 168,192 shares in the company, valued at approximately $14,632,704. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James T. Lenehan bought 2,000 shares of the stock in a transaction that occurred on Wednesday, November 23rd. The stock was bought at an average price of $73.27 per share, with a total value of $146,540.00. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in MDT. Beach Investment Counsel Inc. PA boosted its stake in shares of Medtronic PLC by 2.0% in the second quarter. Beach Investment Counsel Inc. PA now owns 282,436 shares of the medical technology company’s stock valued at $24,507,000 after buying an additional 5,510 shares during the last quarter. Huntington National Bank boosted its stake in shares of Medtronic PLC by 10.9% in the second quarter. Huntington National Bank now owns 227,847 shares of the medical technology company’s stock valued at $19,769,000 after buying an additional 22,309 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Medtronic PLC by 5.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 123,450 shares of the medical technology company’s stock valued at $10,713,000 after buying an additional 5,980 shares during the last quarter. Clarkston Capital Partners LLC boosted its stake in shares of Medtronic PLC by 3.3% in the second quarter. Clarkston Capital Partners LLC now owns 120,828 shares of the medical technology company’s stock valued at $10,484,000 after buying an additional 3,840 shares during the last quarter. Finally, Montag & Caldwell LLC boosted its stake in shares of Medtronic PLC by 16.3% in the second quarter. Montag & Caldwell LLC now owns 2,318,700 shares of the medical technology company’s stock valued at $201,194,000 after buying an additional 324,802 shares during the last quarter. Institutional investors and hedge funds own 81.25% of the company’s stock.

WARNING: This piece of content was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece of content on another site, it was stolen and republished in violation of international trademark and copyright legislation. The legal version of this piece of content can be viewed at https://www.thecerbatgem.com/2016/11/24/medtronic-plc-mdt-given-new-88-00-price-target-at-jefferies-group.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.