Equities researchers at Evercore ISI started coverage on shares of Medtronic (NYSE:MDT) in a research note issued to investors on Wednesday, January 3rd, Marketbeat reports. The brokerage set an “outperform” rating and a $92.50 price target on the medical technology company’s stock. Evercore ISI’s target price points to a potential upside of 6.67% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. SunTrust Banks restated a “buy” rating and set a $96.00 price objective on shares of Medtronic in a research note on Friday, November 3rd. BMO Capital Markets restated an “outperform” rating and set a $89.00 price objective (down previously from $92.00) on shares of Medtronic in a research note on Tuesday, October 10th. Stifel Nicolaus boosted their price objective on Medtronic from $83.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, November 22nd. Needham & Company LLC cut their price target on Medtronic from $95.00 to $94.00 and set a “buy” rating on the stock in a research note on Tuesday, October 10th. Finally, Oppenheimer reiterated a “buy” rating and issued a $94.00 price target on shares of Medtronic in a research note on Wednesday, November 22nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. Medtronic currently has an average rating of “Buy” and an average price target of $89.65.

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Shares of Medtronic (NYSE:MDT) opened at $86.72 on Wednesday. Medtronic has a 1 year low of $74.27 and a 1 year high of $89.72. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 2.05. The company has a market capitalization of $117,920.00, a price-to-earnings ratio of 23.82, a PEG ratio of 2.40 and a beta of 0.99.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.08. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The firm had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the previous year, the business earned $1.12 earnings per share. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. analysts expect that Medtronic will post 4.76 EPS for the current year.

In related news, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $82.82, for a total value of $1,325,120.00. Following the completion of the transaction, the executive vice president now directly owns 88,818 shares of the company’s stock, valued at approximately $7,355,906.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard Kuntz sold 78,526 shares of the stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $86.21, for a total value of $6,769,726.46. Following the completion of the transaction, the vice president now directly owns 149,761 shares of the company’s stock, valued at $12,910,895.81. The disclosure for this sale can be found here. Insiders sold a total of 136,684 shares of company stock valued at $11,582,596 over the last three months. Corporate insiders own 0.31% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MDT. Hudock Capital Group LLC lifted its position in shares of Medtronic by 0.5% during the 2nd quarter. Hudock Capital Group LLC now owns 2,195 shares of the medical technology company’s stock valued at $194,000 after acquiring an additional 11 shares during the last quarter. Triangle Securities Wealth Management lifted its position in shares of Medtronic by 0.3% during the 2nd quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock valued at $390,000 after acquiring an additional 15 shares during the last quarter. IFC Holdings Incorporated FL lifted its position in shares of Medtronic by 0.3% during the 2nd quarter. IFC Holdings Incorporated FL now owns 5,673 shares of the medical technology company’s stock valued at $501,000 after acquiring an additional 17 shares during the last quarter. Arcus Capital Partners LLC lifted its position in shares of Medtronic by 0.8% during the 2nd quarter. Arcus Capital Partners LLC now owns 3,249 shares of the medical technology company’s stock valued at $288,000 after acquiring an additional 25 shares during the last quarter. Finally, Hanson McClain Inc. lifted its position in shares of Medtronic by 0.5% during the 2nd quarter. Hanson McClain Inc. now owns 7,281 shares of the medical technology company’s stock valued at $646,000 after acquiring an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 81.97% of the company’s stock.

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About Medtronic

Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.

Analyst Recommendations for Medtronic (NYSE:MDT)

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