Medtronic (NYSE:MDT) Upgraded by Citigroup to Buy Rating

Medtronic (NYSE:MDT - Get Free Report) was upgraded by stock analysts at Citigroup from a "neutral" rating to a "buy" rating in a research report issued on Tuesday, Marketbeat Ratings reports. The firm presently has a $107.00 price objective on the medical technology company's stock, up from their prior price objective of $92.00. Citigroup's target price would suggest a potential upside of 14.33% from the stock's previous close.

MDT has been the topic of a number of other research reports. Sanford C. Bernstein raised their target price on shares of Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a report on Wednesday, November 20th. Wells Fargo & Company decreased their price objective on shares of Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday, November 20th. UBS Group lifted their price target on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Robert W. Baird raised their target price on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. cut their price target on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $96.07.

Medtronic Stock Down 0.5 %

NYSE MDT traded down $0.47 during mid-day trading on Tuesday, reaching $93.59. 1,142,996 shares of the company's stock traded hands, compared to its average volume of 6,012,362. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic has a 1-year low of $75.96 and a 1-year high of $95.57. The company has a fifty day simple moving average of $87.82 and a 200-day simple moving average of $87.68. The company has a market cap of $120.04 billion, a price-to-earnings ratio of 28.41, a P/E/G ratio of 2.22 and a beta of 0.84.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) 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 net margin of 12.83% and a return on equity of 14.07%. As a group, equities research analysts expect that Medtronic will post 5.46 EPS for the current year.

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the firm's stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the sale, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Medtronic

A number of large investors have recently made changes to their positions in MDT. Guardian Wealth Management Inc. grew its position in Medtronic by 0.9% during the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company's stock valued at $1,182,000 after purchasing an additional 115 shares in the last quarter. MONECO Advisors LLC increased its stake in shares of Medtronic by 1.8% in the fourth quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock worth $512,000 after acquiring an additional 115 shares during the last quarter. First City Capital Management Inc. raised its holdings in shares of 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 acquiring an additional 116 shares in the last quarter. Hardy Reed LLC boosted its position in Medtronic by 4.4% during the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company's stock valued at $247,000 after purchasing an additional 116 shares during the last quarter. Finally, OLD Second National Bank of Aurora grew its stake in Medtronic by 0.3% in the fourth quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company's stock valued at $2,900,000 after purchasing an additional 121 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

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.