Research analysts at Leerink Partners began coverage on shares of Medtronic (NYSE:MDT - Get Free Report) in a note issued to investors on Monday,Benzinga reports. The firm set an "outperform" rating and a $110.00 price target on the medical technology company's stock. Leerink Partners' target price would indicate a potential upside of 26.16% from the company's previous close.
A number of other brokerages have also commented on MDT. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Friday, June 6th. Mizuho decreased their price target on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. UBS Group boosted their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Wall Street Zen cut Medtronic from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Truist Financial decreased their target price on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Medtronic currently has an average rating of "Moderate Buy" and a consensus target price of $97.87.
Read Our Latest Stock Analysis on Medtronic
Medtronic Price Performance
Shares of NYSE MDT opened at $87.19 on Monday. The stock has a market cap of $111.83 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 2.22 and a beta of 0.79. 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 has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The firm's 50-day simple moving average is $84.21 and its 200 day simple moving average is $86.26.
Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.04. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.93 billion for the quarter, compared to analysts' expectations of $8.81 billion. During the same period last year, the business earned $1.46 EPS. The business's revenue was up 3.9% on a year-over-year basis. As a group, research analysts anticipate that Medtronic will post 5.46 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Medtronic
Institutional investors and hedge funds have recently bought and sold shares of the stock. 1248 Management LLC bought a new stake in Medtronic during the 1st quarter valued at $26,000. Burkett Financial Services LLC raised its stake in shares of Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after acquiring an additional 185 shares during the last quarter. Columbia River Financial Group LLC purchased a new stake in shares of Medtronic during the first quarter worth about $28,000. Twin Tree Management LP bought a new stake in shares of Medtronic in the 1st quarter worth approximately $29,000. Finally, Mainstream Capital Management LLC purchased a new stake in Medtronic in the fourth quarter worth $26,000. 82.06% of the stock is currently owned by institutional investors.
Medtronic Company Profile
(
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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.
Further Reading
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