Cowen and Company set a $95.00 price objective on Medtronic PLC (NYSE:MDT) in a research report report published on Tuesday morning. The brokerage currently has a buy rating on the medical technology company’s stock.

Several other brokerages also recently issued reports on MDT. William Blair reissued an outperform rating on shares of Medtronic PLC in a research report on Thursday, July 6th. BidaskClub upgraded shares of Medtronic PLC from a buy rating to a strong-buy rating in a report on Saturday, June 17th. Wells Fargo & Company restated an outperform rating on shares of Medtronic PLC in a report on Wednesday, July 12th. Oppenheimer Holdings, Inc. restated a buy rating on shares of Medtronic PLC in a report on Tuesday, July 18th. Finally, Needham & Company LLC restated a buy rating and set a $95.00 target price (up previously from $91.00) on shares of Medtronic PLC in a report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $88.78.

Medtronic PLC (NYSE MDT) opened at 79.06 on Tuesday. Medtronic PLC has a 12 month low of $69.35 and a 12 month high of $89.72. The stock has a market capitalization of $107.67 billion, a price-to-earnings ratio of 26.61 and a beta of 1.02. The company has a 50 day moving average price of $84.48 and a 200 day moving average price of $83.39.

Medtronic PLC (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.04. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The company had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.44 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. The firm’s revenue was up 3.1% compared to the same quarter last year. Equities research analysts predict that Medtronic PLC will post $4.77 earnings per share for the current year.

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In other Medtronic PLC news, Director Richard H. Anderson bought 5,600 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The shares were acquired at an average cost of $88.90 per share, for a total transaction of $497,840.00. Following the transaction, the director now directly owns 71,910 shares in the company, valued at $6,392,799. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Bryan C. Hanson sold 12,000 shares of Medtronic PLC stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $88.57, for a total transaction of $1,062,840.00. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of MDT. Jackson Grant Investment Advisers Inc. increased its position in shares of Medtronic PLC by 0.3% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 2,920 shares of the medical technology company’s stock worth $235,000 after buying an additional 9 shares during the period. Hudock Capital Group LLC increased its position in shares of Medtronic PLC by 0.5% in the second quarter. Hudock Capital Group LLC now owns 2,195 shares of the medical technology company’s stock worth $194,000 after buying an additional 11 shares during the period. Delta Asset Management LLC TN increased its position in shares of Medtronic PLC by 0.4% in the first quarter. Delta Asset Management LLC TN now owns 3,713 shares of the medical technology company’s stock worth $299,000 after buying an additional 13 shares during the period. Bollard Group LLC increased its position in shares of Medtronic PLC by 0.4% in the first quarter. Bollard Group LLC now owns 3,637 shares of the medical technology company’s stock worth $293,000 after buying an additional 14 shares during the period. Finally, Triangle Securities Wealth Management increased its position in shares of Medtronic PLC by 0.3% in the second quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock worth $390,000 after buying an additional 15 shares during the period. Hedge funds and other institutional investors own 83.54% of the company’s stock.

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.

Analyst Recommendations for Medtronic PLC (NYSE:MDT)

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