Barclays Issues Positive Forecast for Medtronic (NYSE:MDT) Stock Price

Medtronic (NYSE:MDT) had its price target upped by Barclays from $105.00 to $109.00 in a research note published on Tuesday,Benzinga reports. They currently have an overweight rating on the medical technology company’s stock.

A number of other analysts have also issued reports on MDT. Evercore ISI lifted their price objective on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Sanford C. Bernstein raised their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Robert W. Baird lowered their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $95.27.

Medtronic Stock Performance

NYSE:MDT opened at $85.67 on Tuesday. The firm’s fifty day simple moving average is $88.85 and its 200 day simple moving average is $84.95. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. Medtronic has a twelve month low of $75.96 and a twelve month high of $92.68. The firm has a market capitalization of $109.87 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 2.44 and a beta of 0.84.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 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 company had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts expect that Medtronic will post 5.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Medtronic

Several institutional investors have recently bought and sold shares of the stock. Fortitude Family Office LLC bought a new stake in Medtronic during the third quarter valued at about $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic during the 3rd quarter valued at about $27,000. Darwin Wealth Management LLC acquired a new stake in Medtronic in the 3rd quarter valued at $27,000. Lynx Investment Advisory acquired a new stake in shares of Medtronic during the 2nd quarter worth about $28,000. Finally, J. Stern & Co. LLP bought a new position in Medtronic in the 3rd quarter valued at $30,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Company Profile

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.