Analysts Set Medtronic plc. (MDT) Target Price at $87.70

Analysts Set Medtronic plc. (MDT) Target Price at $87.70

MDT has been the subject of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $84.00 price objective on shares of Medtronic plc. in a research report on Monday, February 6th. Wedbush restated a “neutral” rating and issued a $85.00 target price on shares of Medtronic plc. in a research report on Wednesday, February 22nd. Jefferies Group LLC restated a “buy” rating and issued a $88.00 target price on shares of Medtronic plc. in a research report on Friday, February 17th. Evercore ISI upped their target price on Medtronic plc. from $78.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, February 21st. Finally, Vetr downgraded Medtronic plc. from a “buy” rating to a “hold” rating and set a $80.67 target price for the company. in a research report on Thursday, February 16th.

Shares of Medtronic plc. (NYSE:MDT) have earned an average rating of “Hold” from the twenty-eight brokerages that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $89.39.

In other Medtronic plc. news, EVP Hooman Hakami sold 52,316 shares of the business’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $82.33, for a total transaction of $4,307,176.28. Following the sale, the executive vice president now directly owns 73,800 shares of the company’s stock, valued at approximately $6,075,954. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Omar Ishrak sold 95,000 shares of the business’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $82.82, for a total transaction of $7,867,900.00. Following the sale, the chief executive officer now directly owns 645,616 shares in the company, valued at $53,469,917.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 198,073 shares of company stock worth $16,315,832. Company insiders own 0.25% of the company’s stock.

A number of hedge funds have recently made changes to their positions in MDT. WestEnd Advisors LLC purchased a new stake in shares of Medtronic plc. during the third quarter valued at about $67,946,000. Northeast Investment Management increased its stake in shares of Medtronic plc. by 9.7% in the third quarter. Northeast Investment Management now owns 3,034 shares of the medical technology company’s stock valued at $262,000 after buying an additional 268 shares during the period. Physicians Financial Services Inc. increased its stake in shares of Medtronic plc. by 7.8% in the third quarter. Physicians Financial Services Inc. now owns 5,496 shares of the medical technology company’s stock valued at $474,000 after buying an additional 400 shares during the period. LMR Partners LLP purchased a new stake in shares of Medtronic plc. during the third quarter valued at about $931,000. Finally, Becker Capital Management Inc. increased its stake in shares of Medtronic plc. by 4.0% in the third quarter. Becker Capital Management Inc. now owns 2,615 shares of the medical technology company’s stock valued at $226,000 after buying an additional 101 shares during the period. 82.71% of the stock is currently owned by institutional investors.

Medtronic plc. (NYSE MDT) traded down 0.27% during mid-day trading on Tuesday, hitting $84.86. The stock had a trading volume of 4,131,612 shares. Medtronic plc. has a 12-month low of $69.35 and a 12-month high of $89.27. The company has a 50-day moving average of $82.80 and a 200-day moving average of $78.44. The stock has a market cap of $116.17 billion, a price-to-earnings ratio of 29.36 and a beta of 0.97.

Medtronic plc. (NYSE:MDT) last issued its quarterly earnings data on Thursday, May 25th. The medical technology company reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.02. The business had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.86 billion. Medtronic plc. had a return on equity of 12.36% and a net margin of 14.63%. The business’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.27 earnings per share. On average, analysts anticipate that Medtronic plc. will post $4.95 earnings per share for the current fiscal year.

About Medtronic plc.

Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “MDT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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