Medtronic PLC (NYSE:MDT) had its target price cut by Barclays PLC from $93.00 to $85.00 in a report published on Wednesday. They currently have an overweight rating on the medical technology company’s stock.

A number of other brokerages also recently commented on MDT. Zacks Investment Research upgraded 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 report on Tuesday, August 9th. BMO Capital Markets cut their price target on shares of Medtronic PLC from $94.00 to $87.00 and set an outperform rating for the company in a report on Wednesday. Deutsche Bank AG reiterated a buy rating on shares of Medtronic PLC in a 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 price target for the company in a report on Tuesday, November 1st. Finally, Citigroup Inc. assumed coverage on shares of Medtronic PLC in a report on Tuesday, August 23rd. They issued a buy rating and a $102.00 price target for the company. Seven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $88.47.

Analyst Recommendations for Medtronic PLC (NYSE:MDT)

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 firm has a market capitalization of $104.72 billion, a PE ratio of 29.49 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 $82.26 and a 200 day moving average price of $84.71.

Medtronic PLC (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 22nd. The medical technology company reported $1.12 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 the consensus estimate of $7.46 billion. Medtronic PLC had a net margin of 14.63% and a return on equity of 12.30%. Medtronic PLC’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 EPS. On average, analysts expect that Medtronic PLC will post $4.63 EPS for the current fiscal year.

In other news, VP Richard Kuntz sold 25,199 shares of the firm’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 transaction of $2,183,997.33. Following the completion of the sale, the vice president now owns 149,425 shares of the company’s stock, valued at $12,950,664.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Omar Ishrak sold 61,925 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $84.93, for a total transaction of $5,259,290.25. Following the sale, the chief executive officer now directly owns 565,916 shares of the company’s stock, valued at approximately $48,063,245.88. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Krilogy Financial LLC increased its stake in Medtronic PLC by 35.2% in the second quarter. Krilogy Financial LLC now owns 1,163 shares of the medical technology company’s stock worth $101,000 after buying an additional 303 shares during the last quarter. Motco increased its position in Medtronic PLC by 70.9% in the third quarter. Motco now owns 1,350 shares of the medical technology company’s stock worth $117,000 after buying an additional 560 shares in the last quarter. TLP Group LLC acquired a new position in Medtronic PLC during the third quarter worth approximately $124,000. Birch Hill Investment Advisors LLC acquired a new position in Medtronic PLC during the third quarter worth approximately $128,000. Finally, Proficio Capital Partners LLC increased its position in 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 in the last quarter. 81.25% of the stock is owned by institutional investors and hedge funds.

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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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