Medtronic (NYSE:MDT) had its price target boosted by Deutsche Bank from $100.00 to $111.00 in a research report sent to investors on Monday, The Fly reports. They currently have a buy rating on the medical technology company’s stock.

A number of other equities research analysts also recently issued reports on MDT. UBS Group upped their price objective on Medtronic to $112.00 and gave the company a buy rating in a research report on Friday, June 14th. ValuEngine downgraded Medtronic from a buy rating to a hold rating in a research report on Thursday, August 1st. Barclays upped their price objective on Medtronic from $104.00 to $110.00 and gave the company an overweight rating in a research report on Thursday, July 11th. Needham & Company LLC restated a buy rating on shares of Medtronic in a research report on Tuesday, July 23rd. Finally, Zacks Investment Research upgraded Medtronic from a sell rating to a hold rating in a research report on Monday, May 20th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $112.18.

NYSE:MDT opened at $107.79 on Monday. The company has a current ratio of 2.59, a quick ratio of 2.15 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $137.82 billion, a P/E ratio of 20.65, a P/E/G ratio of 2.63 and a beta of 0.67. Medtronic has a 12 month low of $81.66 and a 12 month high of $109.70. The business’s 50-day moving average is $101.30 and its 200 day moving average is $93.87.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 20th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.08. The company had revenue of $7.49 billion for the quarter, compared to the consensus estimate of $7.40 billion. Medtronic had a return on equity of 14.16% and a net margin of 15.15%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.17 earnings per share. On average, research analysts forecast that Medtronic will post 5.48 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Monday, July 8th were paid a dividend of $0.54 per share. This is a boost from Medtronic’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, July 5th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.00%. Medtronic’s dividend payout ratio is currently 41.38%.

In other news, Director Richard H. Anderson acquired 10,900 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were bought at an average price of $92.40 per share, with a total value of $1,007,160.00. Following the completion of the purchase, the director now directly owns 89,912 shares in the company, valued at $8,307,868.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Hoedt Rob Ten sold 9,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $91.88, for a total value of $826,920.00. Following the completion of the transaction, the executive vice president now directly owns 58,785 shares in the company, valued at approximately $5,401,165.80. The disclosure for this sale can be found here. In the last three months, insiders sold 95,701 shares of company stock worth $9,318,744. 0.28% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the stock. Hayden Royal LLC bought a new stake in Medtronic during the 2nd quarter valued at $275,000. Rockefeller Capital Management L.P. boosted its position in Medtronic by 0.6% during the 1st quarter. Rockefeller Capital Management L.P. now owns 1,357,738 shares of the medical technology company’s stock valued at $123,663,000 after acquiring an additional 7,939 shares in the last quarter. Cim LLC boosted its position in Medtronic by 12.9% during the 2nd quarter. Cim LLC now owns 4,189 shares of the medical technology company’s stock valued at $408,000 after acquiring an additional 480 shares in the last quarter. Belpointe Asset Management LLC boosted its position in Medtronic by 35.3% during the 1st quarter. Belpointe Asset Management LLC now owns 4,581 shares of the medical technology company’s stock valued at $417,000 after acquiring an additional 1,196 shares in the last quarter. Finally, Concentric Wealth Management LLC boosted its position in Medtronic by 3.1% during the 2nd quarter. Concentric Wealth Management LLC now owns 19,536 shares of the medical technology company’s stock valued at $1,903,000 after acquiring an additional 595 shares in the last quarter. 80.62% of the stock is currently owned by institutional investors.

Medtronic Company Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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The Fly

Analyst Recommendations for Medtronic (NYSE:MDT)

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