Robert W. Baird Forecasts Strong Price Appreciation for Medtronic (NYSE:MDT) Stock

Medtronic (NYSE:MDT) had its price target boosted by Robert W. Baird from $90.00 to $96.00 in a research report sent to investors on Friday.

A number of other brokerages also recently issued reports on MDT. Truist Financial increased their price target on shares of Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, October 14th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Friday, October 25th. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Finally, Evercore ISI upped their price objective on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $95.80.

Medtronic Stock Up 0.1 %

NYSE:MDT opened at $87.64 on Friday. The company’s 50 day moving average is $89.42 and its two-hundred day moving average is $84.82. The company has a market cap of $112.39 billion, a PE ratio of 29.61, a P/E/G ratio of 2.50 and a beta of 0.84. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. Medtronic has a twelve month low of $74.66 and a twelve month high of $92.68.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.20 by $0.03. The business had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.20 EPS. Analysts anticipate that Medtronic will post 5.44 EPS for the current year.

Institutional Investors Weigh In On Medtronic

Institutional investors and hedge funds have recently made changes to their positions in the business. Clear Harbor Asset Management LLC increased its stake in Medtronic by 1.2% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock worth $861,000 after purchasing an additional 111 shares in the last quarter. Guardian Wealth Management Inc. increased its stake in Medtronic by 0.9% in the 3rd quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock worth $1,182,000 after purchasing an additional 115 shares in the last quarter. First PREMIER Bank increased its stake in Medtronic by 1.8% in the 3rd quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock worth $577,000 after purchasing an additional 116 shares in the last quarter. First City Capital Management Inc. increased its stake in Medtronic by 2.9% in the 3rd quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock worth $371,000 after purchasing an additional 116 shares in the last quarter. Finally, Hardy Reed LLC increased its stake in Medtronic by 4.4% in the 3rd quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock worth $247,000 after purchasing an additional 116 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

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.