Medtronic plc (NYSE:MDT - Get Free Report)'s share price fell 0.1% on Friday . The stock traded as low as $85.53 and last traded at $86.22. 732,207 shares were traded during trading, a decline of 88% from the average session volume of 6,259,997 shares. The stock had previously closed at $86.27.
Wall Street Analyst Weigh In
Several research firms recently weighed in on MDT. Royal Bank of Canada upgraded shares of Medtronic from a "sector perform" rating to an "outperform" rating and boosted their price target for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Sanford C. Bernstein boosted their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a report on Wednesday, November 20th. UBS Group raised shares of Medtronic from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research report on Monday, November 18th. Finally, Truist Financial lifted their price objective on shares of Medtronic from $90.00 to $93.00 and gave the stock a "hold" rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $95.27.
Read Our Latest Research Report on MDT
Medtronic Trading Up 0.3 %
The firm's 50-day moving average price is $88.69 and its 200-day moving average price is $84.99. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The company has a market cap of $110.98 billion, a P/E ratio of 26.46, a price-to-earnings-growth ratio of 2.44 and a beta of 0.84.
Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.25 earnings per share. As a group, equities research analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Medtronic
Several hedge funds have recently bought and sold shares of MDT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Medtronic by 436.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company's stock valued at $661,125,000 after acquiring an additional 5,975,110 shares in the last quarter. Bank of Montreal Can grew its stake in Medtronic by 65.0% in the 3rd quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company's stock worth $406,122,000 after buying an additional 1,790,483 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Medtronic by 1,195.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company's stock worth $144,637,000 after buying an additional 1,695,800 shares in the last quarter. Janus Henderson Group PLC grew its stake in Medtronic by 58.4% in the 3rd quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company's stock worth $346,705,000 after buying an additional 1,420,263 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in Medtronic by 8,908.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company's stock worth $116,896,000 after buying an additional 1,284,002 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.
About Medtronic
(
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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