Medtronic (NYSE:MDT) had its price objective boosted by stock analysts at Morgan Stanley from $105.00 to $111.00 in a research report issued to clients and investors on Wednesday, BenzingaRatingsTable reports. The brokerage presently has an “equal weight” rating on the medical technology company’s stock. Morgan Stanley’s price objective suggests a potential upside of 2.94% from the company’s previous close.

Several other research firms have also recently weighed in on MDT. UBS Group increased their price target on Medtronic from $112.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday. ValuEngine cut Medtronic from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Royal Bank of Canada set a $110.00 price target on Medtronic and gave the company a “buy” rating in a report on Friday, August 16th. Zacks Investment Research raised Medtronic from a “sell” rating to a “hold” rating in a report on Monday, May 20th. Finally, Oppenheimer set a $110.00 price target on Medtronic and gave the company a “buy” rating in a report on Monday, July 15th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Medtronic currently has an average rating of “Buy” and a consensus target price of $113.38.

Shares of MDT opened at $107.83 on Wednesday. The business’s fifty day simple moving average is $101.49 and its two-hundred day simple moving average is $93.96. The company has a market cap of $143.38 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 2.69 and a beta of 0.67. The company has a current ratio of 2.67, a quick ratio of 2.15 and a debt-to-equity ratio of 0.49. Medtronic has a 12 month low of $81.66 and a 12 month high of $109.70.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.08. The firm had revenue of $7.49 billion for the quarter, compared to analysts’ expectations of $7.40 billion. Medtronic had a return on equity of 14.36% and a net margin of 14.41%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.17 EPS. As a group, research analysts forecast that Medtronic will post 5.56 EPS for the current year.

In related news, SVP Bradley E. Lerman sold 6,599 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $102.02, for a total value of $673,229.98. Following the transaction, the senior vice president now directly owns 105,960 shares of the company’s stock, valued at approximately $10,810,039.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Hoedt Rob Ten sold 9,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $91.88, for a total value of $826,920.00. Following the completion of the transaction, the executive vice president now directly owns 58,785 shares in the company, valued at $5,401,165.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,701 shares of company stock worth $9,318,744. 0.28% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the stock. Folger Nolan Fleming Douglas Capital Management Inc. raised its holdings in Medtronic by 2.1% during the second quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 4,782 shares of the medical technology company’s stock valued at $466,000 after acquiring an additional 100 shares during the period. Pekin Hardy Strauss Inc. grew its position in shares of Medtronic by 1.5% during the second quarter. Pekin Hardy Strauss Inc. now owns 6,773 shares of the medical technology company’s stock valued at $660,000 after purchasing an additional 100 shares in the last quarter. Cornerstone Advisors Inc. grew its position in shares of Medtronic by 8.1% during the second quarter. Cornerstone Advisors Inc. now owns 1,621 shares of the medical technology company’s stock valued at $158,000 after purchasing an additional 122 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its position in shares of Medtronic by 3.1% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 4,129 shares of the medical technology company’s stock valued at $376,000 after purchasing an additional 126 shares in the last quarter. Finally, Hanson & Doremus Investment Management grew its position in shares of Medtronic by 0.9% during the first quarter. Hanson & Doremus Investment Management now owns 14,416 shares of the medical technology company’s stock valued at $1,313,000 after purchasing an additional 128 shares in the last quarter. 80.62% of the stock is currently owned by institutional investors.

Medtronic Company Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Analyst Recommendations for Medtronic (NYSE:MDT)

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