Medtronic plc (NYSE:MDT) has received an average recommendation of "Buy" from the twenty-eight research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, nineteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $122.89.
MDT has been the topic of several recent analyst reports. Smith Barney Citigroup increased their price objective on Medtronic from $120.00 to $128.00 in a research report on Wednesday, November 25th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price objective on Medtronic from $120.00 to $128.00 in a research report on Wednesday, November 25th. UBS Group increased their price objective on Medtronic from $123.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, November 25th. Truist increased their price objective on Medtronic to $128.00 and gave the company a "buy" rating in a research report on Wednesday, November 25th. Finally, Wells Fargo & Company raised their price target on Medtronic from $118.00 to $127.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 18th.
MDT traded down $0.91 during trading on Friday, reaching $116.97. 5,180,573 shares of the company were exchanged, compared to its average volume of 4,665,249. The company's 50-day moving average is $116.82 and its two-hundred day moving average is $110.55. The company has a market cap of $157.44 billion, a price-to-earnings ratio of 44.65, a P/E/G ratio of 3.65 and a beta of 0.70. The company has a quick ratio of 1.79, a current ratio of 2.16 and a debt-to-equity ratio of 0.52. Medtronic has a 12-month low of $72.13 and a 12-month high of $120.53.
Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 23rd. The medical technology company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.14. Medtronic had a return on equity of 9.71% and a net margin of 12.69%. The firm had revenue of $7.78 billion for the quarter, compared to analysts' expectations of $7.77 billion. During the same quarter last year, the firm posted $1.44 EPS. The company's revenue was up .8% compared to the same quarter last year. Equities analysts forecast that Medtronic will post 4.21 earnings per share for the current year.
In other news, EVP Robert John White sold 10,930 shares of the firm's stock in a transaction that occurred on Friday, December 18th. The stock was sold at an average price of $115.46, for a total value of $1,261,977.80. Following the completion of the transaction, the executive vice president now owns 55,852 shares in the company, valued at approximately $6,448,671.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Carol A. Surface sold 15,000 shares of Medtronic stock in a transaction on Monday, December 28th. The shares were sold at an average price of $114.90, for a total value of $1,723,500.00. The disclosure for this sale can be found here. Company insiders own 0.52% of the company's stock.
A number of large investors have recently made changes to their positions in MDT. Price T Rowe Associates Inc. MD increased its holdings in shares of Medtronic by 16.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,540,276 shares of the medical technology company's stock worth $2,406,046,000 after purchasing an additional 2,880,467 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Medtronic by 25.0% in the 4th quarter. Nuveen Asset Management LLC now owns 9,536,420 shares of the medical technology company's stock worth $1,117,096,000 after purchasing an additional 1,909,418 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Medtronic by 8.4% in the 4th quarter. Bank of New York Mellon Corp now owns 19,625,466 shares of the medical technology company's stock worth $2,298,927,000 after purchasing an additional 1,527,582 shares in the last quarter. Morgan Stanley increased its holdings in shares of Medtronic by 11.8% in the 4th quarter. Morgan Stanley now owns 11,560,485 shares of the medical technology company's stock worth $1,354,194,000 after purchasing an additional 1,221,333 shares in the last quarter. Finally, Coho Partners Ltd. bought a new stake in shares of Medtronic in the 3rd quarter worth $124,511,000. Institutional investors and hedge funds own 79.17% of the company's stock.
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
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