Medtronic (NYSE:MDT) PT Raised to $118.00
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.
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.
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.
Further Reading: What is the Coverage Ratio?
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.