Medtronic (NYSE:MDT) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Medtronic (NYSE:MDT) had its price target increased by Robert W. Baird from $90.00 to $96.00 in a research report sent to investors on Friday morning.

MDT has been the subject of several other reports. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Friday, October 25th. Wells Fargo & Company increased their target price on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Oppenheimer lifted their price target on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. Piper Sandler upped their price objective on shares of Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Finally, Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and a consensus price target of $95.80.

Medtronic Stock Up 1.8 %

Shares of NYSE MDT traded up $1.53 during mid-day trading on Friday, reaching $87.53. The company had a trading volume of 7,952,317 shares, compared to its average volume of 6,225,400. The stock has a market capitalization of $112.25 billion, a PE ratio of 29.57, a price-to-earnings-growth ratio of 2.51 and a beta of 0.84. Medtronic has a twelve month low of $74.20 and a twelve month high of $92.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. The stock’s 50 day moving average is $89.48 and its 200-day moving average is $84.71.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The company had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the business earned $1.20 EPS. As a group, equities analysts anticipate that Medtronic will post 5.44 earnings per share for the current fiscal year.

Institutional Trading of Medtronic

Several large investors have recently added to or reduced their stakes in MDT. Fortitude Family Office LLC bought a new stake in shares of Medtronic during the third quarter worth $27,000. Darwin Wealth Management LLC bought a new stake in Medtronic during the 3rd quarter worth about $27,000. Highline Wealth Partners LLC bought a new stake in Medtronic during the 3rd quarter worth about $27,000. J. Stern & Co. LLP acquired a new position in Medtronic during the 3rd quarter valued at about $30,000. Finally, Lynx Investment Advisory bought a new position in shares of Medtronic in the 2nd quarter valued at about $28,000. 82.06% of the stock is owned by institutional investors.

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.