Medtronic (NYSE:MDT) Given New $100.00 Price Target at Mizuho

Medtronic (NYSE:MDT - Get Free Report) had its price objective increased by equities research analysts at Mizuho from $98.00 to $100.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the medical technology company's stock. Mizuho's price target points to a potential upside of 11.59% from the stock's previous close.

MDT has been the subject of a number of other research reports. Evercore ISI raised their price objective on Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Leerink Partnrs upgraded Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Truist Financial lowered their price objective on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Wall Street Zen upgraded Medtronic from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Finally, Wolfe Research upgraded Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. Eleven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $98.19.

Medtronic Stock Performance

NYSE MDT traded down $0.17 on Wednesday, reaching $89.61. The stock had a trading volume of 6,332,997 shares, compared to its average volume of 7,044,456. Medtronic has a 12-month low of $77.94 and a 12-month high of $96.25. 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 business's 50-day moving average price is $86.16 and its 200 day moving average price is $86.99. The stock has a market cap of $114.93 billion, a P/E ratio of 24.75, a price-to-earnings-growth ratio of 2.32 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results 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 14.54% and a net margin of 13.90%. The company had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. During the same quarter in the prior year, the company earned $1.46 earnings per share. Medtronic's revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts expect that Medtronic will post 5.46 earnings per share for the current year.

Institutional Trading of Medtronic

Hedge funds and other institutional investors have recently modified their holdings of the company. 1248 Management LLC bought a new stake in shares of Medtronic in the 1st quarter worth $26,000. Burkett Financial Services LLC raised its position 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 worth $26,000 after purchasing an additional 185 shares during the period. Columbia River Financial Group LLC acquired a new stake in shares of Medtronic during the first quarter worth $28,000. Twin Tree Management LP acquired a new stake in shares of Medtronic during the first quarter worth $29,000. Finally, Activest Wealth Management raised its position in shares of Medtronic by 3,577.8% during the first quarter. Activest Wealth Management now owns 331 shares of the medical technology company's stock worth $30,000 after purchasing an additional 322 shares during the period. Institutional investors 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.