Medtronic plc (NYSE:MDT - Get Free Report)'s stock price shot up 2.6% during mid-day trading on Monday . The company traded as high as $94.47 and last traded at $94.38. 2,106,234 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 7,279,776 shares. The stock had previously closed at $92.02.
Analysts Set New Price Targets
A number of brokerages recently weighed in on MDT. Truist Financial cut their price target on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a report on Wednesday, December 18th. UBS Group upped their price objective on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Sanford C. Bernstein increased their target price on Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 20th. Finally, Robert W. Baird upped their price target on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Medtronic presently has a consensus rating of "Hold" and an average target price of $96.07.
Check Out Our Latest Stock Analysis on MDT
Medtronic Price Performance
The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The business's 50-day simple moving average is $87.82 and its 200-day simple moving average is $87.68. The stock has a market cap of $119.24 billion, a PE ratio of 28.25, a PEG ratio of 2.22 and a beta of 0.84.
Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.29 billion during the quarter, compared to analysts' expectations of $8.33 billion. On average, research analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company's stock.
Institutional Investors Weigh In On Medtronic
Hedge funds and other institutional investors have recently made changes to their positions in the business. ASB Consultores LLC bought a new position in shares of Medtronic in the third quarter worth about $210,000. United Advisor Group LLC raised its stake in Medtronic by 49.0% during the 3rd quarter. United Advisor Group LLC now owns 6,513 shares of the medical technology company's stock worth $586,000 after acquiring an additional 2,141 shares during the period. NorthRock Partners LLC lifted its holdings in Medtronic by 7.6% during the third quarter. NorthRock Partners LLC now owns 3,766 shares of the medical technology company's stock valued at $339,000 after purchasing an additional 266 shares in the last quarter. Crestwood Advisors Group LLC lifted its holdings in Medtronic by 8.0% during the third quarter. Crestwood Advisors Group LLC now owns 7,089 shares of the medical technology company's stock valued at $638,000 after purchasing an additional 525 shares in the last quarter. Finally, HF Advisory Group LLC boosted its position in shares of Medtronic by 14.4% in the third quarter. HF Advisory Group LLC now owns 7,873 shares of the medical technology company's stock worth $709,000 after purchasing an additional 992 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.
Medtronic Company Profile
(
Get Free Report)
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.
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