Medtronic (NYSE:MDT – Get Rating) had its target price reduced by research analysts at Sanford C. Bernstein from $100.00 to $99.00 in a research note issued to investors on Friday, The Fly reports. Sanford C. Bernstein’s price target suggests a potential upside of 18.51% from the company’s current price.
A number of other analysts also recently weighed in on the stock. Wells Fargo & Company raised shares of Medtronic from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $77.00 to $100.00 in a report on Monday, April 24th. Truist Financial increased their price objective on shares of Medtronic from $88.00 to $93.00 in a research note on Monday, April 24th. UBS Group cut shares of Medtronic from a “buy” rating to a “sell” rating and dropped their price objective for the company from $127.00 to $79.00 in a research note on Wednesday, March 29th. Barclays upgraded shares of Medtronic from an “equal weight” rating to an “overweight” rating in a research note on Monday, April 24th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $89.00 price objective on shares of Medtronic in a research note on Friday, April 21st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and a consensus price target of $90.68.
Medtronic Price Performance
Shares of Medtronic stock opened at $83.54 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.76 and a quick ratio of 1.39. Medtronic has a fifty-two week low of $75.76 and a fifty-two week high of $101.39. The firm has a fifty day moving average price of $84.78 and a two-hundred day moving average price of $82.11. The company has a market cap of $111.14 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71.
Institutional Investors Weigh In On Medtronic
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sageworth Trust Co acquired a new stake in Medtronic in the 1st quarter valued at about $26,000. Syverson Strege & Co increased its position in Medtronic by 52.9% in the 4th quarter. Syverson Strege & Co now owns 341 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 118 shares in the last quarter. Laurel Wealth Advisors LLC increased its position in Medtronic by 250.0% in the 1st quarter. Laurel Wealth Advisors LLC now owns 350 shares of the medical technology company’s stock valued at $28,000 after acquiring an additional 250 shares in the last quarter. Trivant Custom Portfolio Group LLC acquired a new stake in Medtronic in the 1st quarter valued at about $31,000. Finally, Certified Advisory Corp acquired a new stake in Medtronic in the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 80.37% of the company’s stock.
Medtronic Company Profile
Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiovascular Porrtfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit.
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