Brokerages Set Medtronic plc (NYSE:MDT) Target Price at $95.36

Shares of Medtronic plc (NYSE:MDT) have received a consensus recommendation of “Hold” from the sixteen ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $95.36.

A number of brokerages have weighed in on MDT. Citigroup lifted their target price on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Stifel Nicolaus lifted their target price on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. Truist Financial lifted their price target on Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a report on Monday, October 14th. Oppenheimer lifted their price target on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a report on Wednesday, August 21st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Friday, October 25th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MDT. Clear Harbor Asset Management LLC lifted its stake in Medtronic by 1.2% during the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock worth $861,000 after purchasing an additional 111 shares in the last quarter. First PREMIER Bank lifted its stake in Medtronic by 1.8% during the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock worth $577,000 after purchasing an additional 116 shares in the last quarter. First City Capital Management Inc. lifted its stake in Medtronic by 2.9% during the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock worth $371,000 after purchasing an additional 116 shares in the last quarter. Hardy Reed LLC lifted its stake in Medtronic by 4.4% during the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock worth $247,000 after purchasing an additional 116 shares in the last quarter. Finally, Precision Wealth Strategies LLC lifted its stake in Medtronic by 3.3% during the third quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock worth $337,000 after purchasing an additional 118 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Down 0.4 %

Shares of NYSE MDT opened at $87.98 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $89.65 and a two-hundred day simple moving average of $84.63. The firm has a market cap of $112.83 billion, a PE ratio of 29.72, a price-to-earnings-growth ratio of 2.52 and a beta of 0.84. Medtronic has a twelve month low of $72.08 and a twelve month high of $92.68.

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

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.