Medtronic (NYSE:MDT) Given New $95.00 Price Target at UBS Group

Medtronic (NYSE:MDT) had its target price boosted by equities researchers at UBS Group from $85.00 to $95.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the medical technology company’s stock. UBS Group’s price objective would suggest a potential upside of 10.21% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Truist Financial reduced their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. JPMorgan Chase & Co. reduced their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Wednesday. Robert W. Baird upped their price objective on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Barclays upped their price objective on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Medtronic currently has an average rating of “Hold” and an average price target of $95.20.

Medtronic Price Performance

NYSE MDT opened at $86.20 on Wednesday. The business’s fifty day moving average price is $85.74 and its 200-day moving average price is $87.02. The stock has a market capitalization of $110.53 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 2.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic has a 1-year low of $75.96 and a 1-year high of $93.08.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.03. The firm had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. On average, equities analysts predict that Medtronic will post 5.45 earnings per share for the current year.

Insider Activity

In other news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Medtronic

Institutional investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC grew its holdings in Medtronic by 14.9% in the third quarter. Sequoia Financial Advisors LLC now owns 72,228 shares of the medical technology company’s stock worth $6,503,000 after purchasing an additional 9,340 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Medtronic by 4.3% during the third quarter. Signaturefd LLC now owns 13,332 shares of the medical technology company’s stock worth $1,200,000 after buying an additional 551 shares during the period. Eastern Bank acquired a new stake in shares of Medtronic during the third quarter worth $1,902,000. GAM Holding AG lifted its stake in shares of Medtronic by 0.4% during the third quarter. GAM Holding AG now owns 109,330 shares of the medical technology company’s stock worth $9,843,000 after buying an additional 440 shares during the period. Finally, Meadow Creek Wealth Advisors LLC lifted its stake in shares of Medtronic by 5.9% during the third quarter. Meadow Creek Wealth Advisors LLC now owns 5,677 shares of the medical technology company’s stock worth $511,000 after buying an additional 318 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

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.