UBS Group Raises Medtronic (NYSE:MDT) Price Target to $95.00

Medtronic (NYSE:MDT) had its price objective boosted by research analysts at UBS Group from $85.00 to $95.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the medical technology company’s stock. UBS Group’s target price would indicate a potential upside of 7.78% from the stock’s current price.

A number of other research analysts also recently weighed in on MDT. Wells Fargo & Company decreased their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Barclays raised their price target on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Sanford C. Bernstein lifted their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Robert W. Baird lifted their target price on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. reduced their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $95.20.

Medtronic Stock Up 1.3 %

Shares of Medtronic stock opened at $88.14 on Wednesday. The business’s 50 day simple moving average is $85.93 and its 200 day simple moving average is $87.03. Medtronic has a 52-week low of $75.96 and a 52-week high of $93.08. The firm has a market cap of $113.02 billion, a PE ratio of 26.79, a P/E/G ratio of 2.44 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a return on equity of 14.11% and a net margin of 12.83%. On average, analysts predict that Medtronic will post 5.45 earnings per share for the current fiscal year.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the transaction, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Medtronic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Copley Financial Group Inc. acquired a new position in Medtronic in the 3rd quarter valued at $694,000. Olstein Capital Management L.P. raised its holdings in Medtronic by 19.2% in the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock valued at $7,833,000 after acquiring an additional 14,000 shares in the last quarter. Franklin Street Advisors Inc. NC raised its holdings in Medtronic by 32.6% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock valued at $5,873,000 after acquiring an additional 18,057 shares in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in shares of Medtronic by 322.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock worth $6,626,000 after buying an additional 56,178 shares in the last quarter. Finally, Czech National Bank raised its holdings in shares of Medtronic by 6.4% during the 4th quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock worth $22,212,000 after buying an additional 16,786 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

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.