Medtronic (NYSE:MDT) Given New $93.00 Price Target at Robert W. Baird

Medtronic (NYSE:MDT) had its target price lowered by Robert W. Baird from $96.00 to $93.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the medical technology company’s stock.

Several other brokerages have also recently issued reports on MDT. Truist Financial raised their price objective on Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Monday. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Citigroup lifted their price target on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Finally, Evercore ISI boosted their price target on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $95.19.

Medtronic Stock Down 1.0 %

Shares of NYSE:MDT opened at $84.11 on Wednesday. The company has a market cap of $107.87 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 2.42 and a beta of 0.84. Medtronic has a 12 month low of $75.96 and a 12 month high of $92.68. The company has a current ratio of 1.84, a quick ratio of 1.61 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average price of $89.17 and a 200 day moving average price of $84.84.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period last year, the company earned $1.25 EPS. Medtronic’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts predict that Medtronic will post 5.46 earnings per share for the current year.

Institutional Trading of Medtronic

Several large investors have recently bought and sold shares of MDT. Fortitude Family Office LLC purchased a new stake in shares of Medtronic in the third quarter valued at $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic during the third quarter valued at approximately $27,000. Darwin Wealth Management LLC purchased a new stake in Medtronic in the 3rd quarter worth approximately $27,000. Lynx Investment Advisory purchased a new stake in Medtronic in the 2nd quarter worth approximately $28,000. Finally, J. Stern & Co. LLP purchased a new position in shares of Medtronic during the 3rd quarter worth $30,000. 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.