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

Medtronic (NYSE:MDT) had its price objective boosted by equities researchers at UBS Group from $85.00 to $95.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the medical technology company’s stock. UBS Group’s price target indicates a potential upside of 10.21% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Robert W. Baird boosted their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday. Wells Fargo & Company cut their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Sanford C. Bernstein boosted their target price on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Wednesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $95.20.

Medtronic Trading Up 0.1 %

NYSE MDT opened at $86.20 on Wednesday. The company has a market capitalization of $110.53 billion, a PE ratio of 26.36, a P/E/G ratio of 2.63 and a beta of 0.84. The company has a fifty day moving average of $85.74 and a 200 day moving average of $87.02. Medtronic has a 1 year low of $75.96 and a 1 year high of $93.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. Research analysts forecast that Medtronic will post 5.45 earnings per share for the current year.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Medtronic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MDT. Norges Bank purchased a new position in Medtronic in the 4th quarter valued at approximately $1,163,580,000. Raymond James Financial Inc. purchased a new stake in shares of Medtronic during the 4th quarter worth $852,732,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Medtronic by 436.7% during the 3rd 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 worth $661,125,000 after purchasing an additional 5,975,110 shares during the last quarter. Beutel Goodman & Co Ltd. purchased a new stake in shares of Medtronic during the 4th quarter worth $377,169,000. Finally, Van ECK Associates Corp lifted its position in Medtronic by 2,043.4% in the fourth quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company’s stock valued at $207,540,000 after acquiring an additional 2,476,935 shares during the last quarter. Hedge funds and other institutional investors 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.