Medtronic (NYSE:MDT) Rating Lowered to “Hold” at Wall Street Zen

Medtronic (NYSE:MDT) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

MDT has been the topic of a number of other research reports. UBS Group raised their target price on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Truist Financial dropped their price target on Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Monday, May 19th. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and increased their price target for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Finally, Mizuho dropped their price target on Medtronic from $100.00 to $98.00 and set an “outperform” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Hold” and a consensus target price of $96.07.

Medtronic Trading Down 0.3%

Shares of MDT stock opened at $80.70 on Friday. The stock’s fifty day moving average price is $85.06 and its two-hundred day moving average price is $86.44. The company has a market cap of $103.51 billion, a PE ratio of 24.53, a P/E/G ratio of 2.22 and a beta of 0.81. Medtronic has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic (NYSE:MDT) last issued its earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.04. The firm had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.81 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.46 EPS. Equities analysts predict that Medtronic will post 5.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MDT. Mainstream Capital Management LLC bought a new position in Medtronic during the 4th quarter worth $26,000. Burkett Financial Services LLC raised its position in Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock worth $26,000 after purchasing an additional 185 shares during the last quarter. 1248 Management LLC bought a new position in Medtronic during the 1st quarter worth $26,000. Stephens Consulting LLC grew its holdings in Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 204 shares during the period. Finally, Rakuten Securities Inc. grew its holdings in Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 294 shares during the period. 82.06% of the stock is 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.