Evercore ISI Issues Positive Forecast for Medtronic (NYSE:MDT) Stock Price

Medtronic (NYSE:MDT - Get Free Report) had its price target lifted by equities research analysts at Evercore ISI from $103.00 to $106.00 in a report released on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the medical technology company's stock. Evercore ISI's target price suggests a potential upside of 18.58% from the stock's previous close.

MDT has been the topic of several other reports. Mizuho decreased their target price on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research report on Friday, June 6th. Wall Street Zen upgraded shares of Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Leerink Partnrs upgraded shares of Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Finally, Leerink Partners began coverage on shares of Medtronic in a research report on Monday, June 16th. They set an "outperform" rating and a $110.00 target price on the stock. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $97.47.

Medtronic Stock Performance

MDT traded up $0.39 during trading on Tuesday, hitting $89.39. The stock had a trading volume of 5,881,865 shares, compared to its average volume of 6,993,183. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85. The firm has a market capitalization of $114.65 billion, a P/E ratio of 24.69, a PEG ratio of 2.39 and a beta of 0.80. The company's 50-day moving average price is $85.54 and its 200 day moving average price is $86.71. Medtronic has a twelve month low of $76.33 and a twelve month high of $96.25.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.04. The company had revenue of $8.93 billion for the quarter, compared to analysts' expectations of $8.81 billion. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. Medtronic's revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.46 EPS. On average, equities research analysts forecast that Medtronic will post 5.46 EPS for the current fiscal year.

Institutional Trading of Medtronic

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Red Spruce Capital LLC increased its position in Medtronic by 0.5% during the 2nd quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company's stock worth $2,067,000 after purchasing an additional 118 shares in the last quarter. Certior Financial Group LLC increased its position in Medtronic by 3.7% during the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company's stock worth $310,000 after purchasing an additional 122 shares in the last quarter. Dunhill Financial LLC increased its position in Medtronic by 17.2% during the 1st quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock worth $76,000 after purchasing an additional 124 shares in the last quarter. Cidel Asset Management Inc. increased its position in Medtronic by 1.3% during the 1st quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock worth $856,000 after purchasing an additional 126 shares in the last quarter. Finally, Petros Family Wealth LLC grew its position in Medtronic by 4.3% in the first quarter. Petros Family Wealth LLC now owns 3,111 shares of the medical technology company's stock valued at $280,000 after acquiring an additional 127 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

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.