Medtronic (NYSE:MDT) Stock Price Expected to Rise, Mizuho Analyst Says

Medtronic (NYSE:MDT) had its price target increased by research analysts at Mizuho from $98.00 to $100.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the medical technology company’s stock. Mizuho’s price target points to a potential upside of 10.67% from the company’s current price.

MDT has been the topic of a number of other research reports. Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a research report on Saturday, June 21st. Leerink Partnrs upgraded shares of Medtronic to a “strong-buy” rating in a research report on Monday, June 16th. Evercore ISI lifted their target price on shares of Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Citigroup lifted their target price on shares of Medtronic from $98.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Finally, Truist Financial decreased their target price on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, April 11th. Eleven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and an average target price of $98.19.

Medtronic Price Performance

NYSE:MDT traded up $0.83 during trading hours on Wednesday, hitting $90.36. The stock had a trading volume of 586,385 shares, compared to its average volume of 7,753,792. The company has a 50 day simple moving average of $86.29 and a two-hundred day simple moving average of $87.06. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. Medtronic has a one year low of $78.32 and a one year high of $96.25. The firm has a market capitalization of $115.88 billion, a price-to-earnings ratio of 24.95, a P/E/G ratio of 2.33 and a beta of 0.80.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.58 by $0.04. The firm had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.81 billion. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned $1.46 EPS. Research analysts forecast that Medtronic will post 5.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Medtronic

Large investors have recently modified their holdings of the stock. Burkett Financial Services LLC boosted its stake in shares of Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 185 shares in the last quarter. 1248 Management LLC bought a new stake in shares of Medtronic during the 1st quarter valued at about $26,000. Wood Tarver Financial Group LLC bought a new stake in shares of Medtronic during the 4th quarter valued at about $27,000. Columbia River Financial Group LLC bought a new stake in shares of Medtronic during the 1st quarter valued at about $28,000. Finally, Twin Tree Management LP bought a new stake in shares of Medtronic during the 1st quarter valued at about $29,000. 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.