Medtronic (NYSE:MDT – Get 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.
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
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.
- Get a free copy of the StockNews.com research report on Medtronic (MDT)
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