Medtronic (NYSE:MDT) Upgraded to "Peer Perform" at Wolfe Research

Medtronic (NYSE:MDT - Get Free Report) was upgraded by research analysts at Wolfe Research from an "underperform" rating to a "peer perform" rating in a research note issued on Monday, Marketbeat reports.

A number of other equities research analysts have also weighed in on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research report on Friday, June 6th. Wall Street Zen upgraded Medtronic from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Robert W. Baird dropped their target price on shares of Medtronic from $94.00 to $92.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and raised their target price for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Finally, Mizuho lowered their price target on shares of Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $97.87.

Medtronic Stock Performance

MDT stock opened at $86.19 on Monday. Medtronic has a twelve month low of $75.96 and a twelve month high of $96.25. The firm has a market cap of $110.54 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 2.32 and a beta of 0.79. The business's fifty day simple moving average is $84.82 and its two-hundred day simple moving average is $86.38. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53.

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 for the quarter, beating analysts' consensus estimates of $1.58 by $0.04. The company had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The firm's revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $1.46 EPS. Analysts predict that Medtronic will post 5.46 earnings per share for the current year.

Institutional Trading of Medtronic

Several large investors have recently added to or reduced their stakes in MDT. Vanguard Group Inc. increased its holdings in Medtronic by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company's stock worth $11,233,780,000 after buying an additional 810,854 shares during the period. Capital Research Global Investors boosted its holdings in shares of Medtronic by 1.8% in the 4th quarter. Capital Research Global Investors now owns 33,203,685 shares of the medical technology company's stock valued at $2,652,310,000 after acquiring an additional 571,700 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Medtronic by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 27,056,217 shares of the medical technology company's stock valued at $2,155,085,000 after acquiring an additional 574,055 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Medtronic by 7.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company's stock worth $2,001,903,000 after acquiring an additional 1,461,841 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Medtronic by 3.8% during the 1st quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company's stock worth $1,858,332,000 after purchasing an additional 756,192 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.

About Medtronic

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.

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