Medtronic (NYSE:MDT) PT Lowered to $82.00

Medtronic (NYSE:MDTGet Rating) had its target price lowered by analysts at Wells Fargo & Company from $96.00 to $82.00 in a research report issued on Wednesday, The Fly reports. Wells Fargo & Company‘s price objective indicates a potential upside of 3.77% from the stock’s previous close.

Other analysts have also issued reports about the company. Citigroup lowered Medtronic from a “buy” rating to a “neutral” rating and cut their price target for the company from $108.00 to $85.00 in a report on Wednesday. Raymond James lowered Medtronic from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 24th. StockNews.com began coverage on Medtronic in a report on Wednesday, October 12th. They set a “buy” rating on the stock. Piper Sandler dropped their target price on Medtronic from $90.00 to $80.00 in a report on Tuesday. Finally, Truist Financial dropped their target price on Medtronic from $97.00 to $89.00 and set a “hold” rating on the stock in a report on Monday, October 17th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $98.00.

Medtronic Stock Up 1.4 %

NYSE:MDT opened at $79.02 on Wednesday. Medtronic has a 1 year low of $76.60 and a 1 year high of $115.28. The company has a current ratio of 1.76, a quick ratio of 1.23 and a debt-to-equity ratio of 0.40. The stock has a market cap of $105.03 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 2.17 and a beta of 0.77. The stock has a 50-day moving average price of $83.56 and a two-hundred day moving average price of $89.79.

Medtronic (NYSE:MDTGet Rating) last posted its earnings results on Tuesday, November 22nd. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.02. The firm had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.70 billion. Medtronic had a return on equity of 13.52% and a net margin of 14.03%. The company’s revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.32 earnings per share. As a group, equities analysts expect that Medtronic will post 5.28 earnings per share for the current year.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Hoedt Rob Ten sold 2,404 shares of the firm’s stock in a transaction on Friday, October 14th. The stock was sold at an average price of $81.54, for a total value of $196,022.16. Following the sale, the executive vice president now owns 43,483 shares of the company’s stock, valued at approximately $3,545,603.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MDT. Castle Wealth Management LLC bought a new position in shares of Medtronic in the 2nd quarter valued at $28,000. IAG Wealth Partners LLC lifted its stake in shares of Medtronic by 58.1% in the 3rd quarter. IAG Wealth Partners LLC now owns 351 shares of the medical technology company’s stock valued at $28,000 after acquiring an additional 129 shares during the last quarter. Tortoise Investment Management LLC raised its position in Medtronic by 53.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 357 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 124 shares during the last quarter. West Branch Capital LLC grew its holdings in Medtronic by 84.8% during the 2nd quarter. West Branch Capital LLC now owns 377 shares of the medical technology company’s stock worth $34,000 after acquiring an additional 173 shares during the period. Finally, Annapolis Financial Services LLC grew its holdings in Medtronic by 368.0% during the 3rd quarter. Annapolis Financial Services LLC now owns 482 shares of the medical technology company’s stock worth $39,000 after acquiring an additional 379 shares during the period. 79.81% of the stock is currently owned by institutional investors.

Medtronic Company Profile

(Get Rating)

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.

Featured Articles

The Fly logo

Analyst Recommendations for Medtronic (NYSE:MDT)

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.