Medtronic (NYSE:MDT) had its price target boosted by Oppenheimer from $110.00 to $118.00 in a report issued on Wednesday morning, The Fly reports. Oppenheimer currently has an outperform rating on the medical technology company’s stock. Oppenheimer also issued estimates for Medtronic’s Q3 2020 earnings at $1.37 EPS, FY2020 earnings at $5.55 EPS and FY2021 earnings at $6.00 EPS.

A number of other equities research analysts also recently issued reports on the stock. Barclays lifted their price target on shares of Medtronic from $110.00 to $117.00 and gave the company an overweight rating in a research report on Wednesday. UBS Group lifted their price target on shares of Medtronic from $112.00 to $122.00 and gave the company a buy rating in a research report on Wednesday. Needham & Company LLC reiterated a buy rating on shares of Medtronic in a research report on Tuesday, July 23rd. ValuEngine downgraded shares of Medtronic from a buy rating to a hold rating in a research report on Thursday, August 1st. Finally, Morgan Stanley lifted their price objective on Medtronic from $105.00 to $111.00 and gave the stock an equal weight rating in a research report on Wednesday. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company has an average rating of Buy and a consensus price target of $113.55.

MDT stock opened at $106.05 on Wednesday. The firm has a 50 day moving average of $101.64 and a 200-day moving average of $94.06. Medtronic has a 12-month low of $81.66 and a 12-month high of $109.70. The company has a current ratio of 2.67, a quick ratio of 2.15 and a debt-to-equity ratio of 0.49. The company has a market cap of $144.62 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 2.65 and a beta of 0.67.

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

In other Medtronic news, EVP Geoffrey Martha sold 11,000 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $96.05, for a total value of $1,056,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Bradley E. Lerman sold 6,599 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $102.02, for a total value of $673,229.98. Following the completion of the transaction, the senior vice president now owns 105,960 shares of the company’s stock, valued at $10,810,039.20. The disclosure for this sale can be found here. Insiders have sold a total of 95,701 shares of company stock valued at $9,318,744 over the last 90 days. Insiders own 0.28% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. RFG Advisory LLC purchased a new stake in shares of Medtronic during the 2nd quarter valued at $239,000. BlackRock Inc. grew its stake in shares of Medtronic by 0.4% during the 2nd quarter. BlackRock Inc. now owns 107,191,111 shares of the medical technology company’s stock valued at $10,439,341,000 after buying an additional 413,027 shares during the period. Colonial Trust Advisors grew its stake in shares of Medtronic by 2.2% during the 2nd quarter. Colonial Trust Advisors now owns 35,473 shares of the medical technology company’s stock valued at $3,455,000 after buying an additional 764 shares during the period. Transamerica Financial Advisors Inc. purchased a new stake in shares of Medtronic during the 2nd quarter valued at $48,000. Finally, Gamble Jones Investment Counsel grew its stake in shares of Medtronic by 14.7% during the 2nd quarter. Gamble Jones Investment Counsel now owns 11,527 shares of the medical technology company’s stock valued at $1,123,000 after buying an additional 1,477 shares during the period. Institutional investors own 80.62% of the company’s stock.

About Medtronic

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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