Medtronic (NYSE:MDT) Price Target Raised to $120.00
Medtronic (NYSE:MDT) had its target price hoisted by BTIG Research to $120.00 in a research report report published on Wednesday, The Fly reports. BTIG Research currently has a buy rating on the medical technology company’s stock.
Several other research analysts have also commented on MDT. ValuEngine lowered shares of Medtronic from a buy rating to a hold rating in a research note on Thursday, August 1st. UBS Group lifted their price objective on shares of Medtronic to $112.00 and gave the stock a buy rating in a research note on Friday, June 14th. Cowen reaffirmed an outperform rating and set a $111.00 price objective (up from $99.00) on shares of Medtronic in a research note on Wednesday, August 14th. Northland Securities reaffirmed a hold rating and set a $100.00 price objective on shares of Medtronic in a research note on Wednesday. Finally, Barclays lifted their price objective on shares of Medtronic from $104.00 to $110.00 and gave the stock an overweight rating in a research note on Thursday, July 11th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Medtronic has an average rating of Buy and a consensus target price of $113.55.
MDT stock opened at $106.05 on Wednesday. The firm has a fifty day moving average price of $101.64 and a 200 day moving average price of $94.06. Medtronic has a fifty-two week low of $81.66 and a fifty-two week high of $109.70. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.15 and a current ratio of 2.67. The firm has a market cap of $144.62 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 2.65 and a beta of 0.67.
In other news, SVP Richard Kuntz sold 3,438 shares of Medtronic stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $101.12, for a total transaction of $347,650.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bradley E. Lerman sold 4,000 shares of Medtronic stock in a transaction on Monday, August 5th. The stock was sold at an average price of $100.31, for a total value of $401,240.00. Following the sale, the senior vice president now owns 52,906 shares of the company’s stock, valued at $5,307,000.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,701 shares of company stock valued at $9,318,744. Corporate insiders own 0.28% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Krane Funds Advisors LLC bought a new stake in shares of Medtronic during the second quarter worth $25,000. Redhawk Wealth Advisors Inc. bought a new stake in shares of Medtronic in the second quarter valued at about $34,000. Rocky Mountain Advisers LLC raised its holdings in shares of Medtronic by 100.0% in the second quarter. Rocky Mountain Advisers LLC now owns 400 shares of the medical technology company’s stock valued at $39,000 after acquiring an additional 200 shares in the last quarter. Mackey Komara & Dankovich LLC bought a new stake in shares of Medtronic in the first quarter valued at about $38,000. Finally, Transamerica Financial Advisors Inc. bought a new stake in shares of Medtronic in the second quarter valued at about $48,000. Institutional investors and hedge funds own 80.62% of the company’s stock.
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.
Featured Story: How does a security become overbought?
Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.