Free Trial

Medtronic (NYSE:MDT) Price Target Raised to $106.00

Medtronic logo with Medical background

Medtronic (NYSE:MDT - Get Free Report) had its price target raised by research analysts at Evercore ISI from $103.00 to $106.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the medical technology company's stock. Evercore ISI's price objective would suggest a potential upside of 19.73% from the stock's current price.

A number of other equities research analysts also recently issued reports on the stock. Mizuho reduced their price target on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Leerink Partnrs raised shares of Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Wolfe Research raised shares of Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. Wall Street Zen raised shares of Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research note on Friday, June 6th. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Medtronic has an average rating of "Moderate Buy" and a consensus target price of $98.00.

Get Our Latest Analysis on MDT

Medtronic Price Performance

MDT traded down $0.05 on Tuesday, reaching $88.53. 1,384,530 shares of the company's stock were exchanged, compared to its average volume of 6,976,732. The stock has a market cap of $113.54 billion, a PE ratio of 24.46, a P/E/G ratio of 2.37 and a beta of 0.80. Medtronic has a twelve month low of $75.96 and a twelve month high of $96.25. The stock's fifty day moving average price is $85.45 and its 200-day moving average price is $86.69. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.04. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The firm had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. During the same period in the previous year, the business posted $1.46 earnings per share. Medtronic's quarterly revenue was up 3.9% on a year-over-year basis. Sell-side analysts expect that Medtronic will post 5.46 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Red Spruce Capital LLC raised its holdings in shares of Medtronic by 0.5% in the second quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company's stock valued at $2,067,000 after purchasing an additional 118 shares during the last quarter. Certior Financial Group LLC raised its holdings in shares of Medtronic by 3.7% in the first quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company's stock valued at $310,000 after purchasing an additional 122 shares during the last quarter. Dunhill Financial LLC raised its holdings in shares of Medtronic by 17.2% in the first quarter. Dunhill Financial LLC now owns 847 shares of the medical technology company's stock valued at $76,000 after purchasing an additional 124 shares during the last quarter. Cidel Asset Management Inc. raised its holdings in shares of Medtronic by 1.3% in the first quarter. Cidel Asset Management Inc. now owns 9,531 shares of the medical technology company's stock valued at $856,000 after purchasing an additional 126 shares during the last quarter. Finally, Petros Family Wealth LLC raised its holdings in shares of 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 purchasing an additional 127 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Company Profile

(Get Free Report)

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 Stories

Analyst Recommendations for Medtronic (NYSE:MDT)

Should You Invest $1,000 in Medtronic Right Now?

Before you consider Medtronic, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Medtronic wasn't on the list.

While Medtronic currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Investing Strategies To Help Grow Your Retirement Income Cover

Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Don’t Miss These Top 3 Defense Stocks Set To Gain
Triple-Digit Gains: These 4 Nuclear Stocks Have Even More Upside Ahead
3 Made in America Stocks Under $20 You Need to See!

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines