Medtronic PLC (NYSE:MDT) shares traded down 2.5% on Wednesday after Oppenheimer Holdings lowered their price target on the stock from $94.00 to $84.00. Oppenheimer Holdings currently has an outperform rating on the stock. Medtronic PLC traded as low as $72.03 and last traded at $75.45, with a volume of 8,950,741 shares. The stock had previously closed at $73.60.

A number of other analysts also recently issued reports on the stock. Barclays PLC cut their price target on shares of Medtronic PLC from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday. Vetr downgraded shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating and set a $91.28 price target for the company. in a report on Monday. Needham & Company LLC raised their price target on shares of Medtronic PLC from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, August 25th. Stifel Nicolaus cut their price target on shares of Medtronic PLC from $91.00 to $81.00 and set a “hold” rating for the company in a report on Wednesday. Finally, Jefferies Group cut their price target on shares of Medtronic PLC from $100.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $88.47.

In other Medtronic PLC news, VP Richard Kuntz sold 25,199 shares of Medtronic PLC stock in a transaction 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 transaction, the vice president now directly owns 149,425 shares in the company, valued at $12,950,664.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Bryan C. Hanson sold 15,000 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was 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 owns 168,192 shares in the company, valued at $14,632,704. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of MDT. Beach Investment Counsel Inc. PA raised its position 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 worth $24,507,000 after buying an additional 5,510 shares during the period. Huntington National Bank raised its position 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 worth $19,769,000 after buying an additional 22,309 shares during the period. Northwestern Mutual Wealth Management Co. raised its position 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 worth $10,713,000 after buying an additional 5,980 shares during the period. Clarkston Capital Partners LLC raised its position 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 worth $10,484,000 after buying an additional 3,840 shares during the period. Finally, Montag & Caldwell LLC raised its position 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 worth $201,194,000 after buying an additional 324,802 shares during the period. Institutional investors and hedge funds own 81.25% of the company’s stock.

The stock has a market cap of $104.72 billion, a price-to-earnings ratio of 29.49 and a beta of 1.01. 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 released its quarterly earnings results on Tuesday, November 22nd. The medical technology company reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.01. The business earned $7.35 billion during the quarter, compared to analyst estimates of $7.46 billion. Medtronic PLC had a net margin of 14.63% and a return on equity of 12.30%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the business earned $1.03 EPS. Equities research analysts predict that Medtronic PLC will post $4.63 EPS for the current year.

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Medtronic PLC Company Profile

Medtronic Public Limited Company (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

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