Medtronic (NYSE:MDT) Given New $95.00 Price Target at UBS Group

Medtronic (NYSE:MDT) had its price objective boosted by equities research analysts at UBS Group from $85.00 to $95.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the medical technology company’s stock. UBS Group’s target price indicates a potential upside of 7.78% from the stock’s current price.

A number of other brokerages have also recently issued reports on MDT. Barclays upped their target price on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. lowered their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Truist Financial lowered their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Wells Fargo & Company reduced their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Finally, Sanford C. Bernstein upped their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $95.20.

Medtronic Price Performance

Medtronic stock opened at $88.14 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. Medtronic has a 52 week low of $75.96 and a 52 week high of $93.08. The stock has a market capitalization of $113.02 billion, a P/E ratio of 26.79, a price-to-earnings-growth ratio of 2.44 and a beta of 0.84. The stock has a fifty day moving average of $85.93 and a 200-day moving average of $87.03.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.11% 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, sell-side analysts expect that Medtronic will post 5.45 earnings per share for the current fiscal year.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the transaction, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. This 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. 0.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MDT. Sequoia Financial Advisors LLC raised its stake in Medtronic by 14.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 72,228 shares of the medical technology company’s stock worth $6,503,000 after buying an additional 9,340 shares during the period. Signaturefd LLC raised its stake in shares of Medtronic by 4.3% in the third quarter. Signaturefd LLC now owns 13,332 shares of the medical technology company’s stock worth $1,200,000 after purchasing an additional 551 shares during the last quarter. Eastern Bank purchased a new stake in shares of Medtronic in the third quarter worth approximately $1,902,000. GAM Holding AG raised its stake in shares of Medtronic by 0.4% in the third quarter. GAM Holding AG now owns 109,330 shares of the medical technology company’s stock worth $9,843,000 after purchasing an additional 440 shares during the last quarter. Finally, Meadow Creek Wealth Advisors LLC raised its stake in shares of Medtronic by 5.9% in the third quarter. Meadow Creek Wealth Advisors LLC now owns 5,677 shares of the medical technology company’s stock worth $511,000 after purchasing an additional 318 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

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.