Medtronic’s (MDT) “Hold” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Medtronic (NYSE:MDT) in a research note published on Monday morning,Benzinga reports.

MDT has been the subject of a number of other research reports. Truist Financial raised their price objective on Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, October 14th. Barclays lifted their price objective on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Oppenheimer increased their target price on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. Finally, Citigroup increased their price objective on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and an average price target of $95.80.

Medtronic Stock Up 0.1 %

NYSE MDT opened at $87.64 on Monday. Medtronic has a 12 month low of $74.66 and a 12 month high of $92.68. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The stock 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 stock’s 50 day moving average is $89.42 and its 200 day moving average is $84.82.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The firm had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. Medtronic’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.20 earnings per share. Research analysts predict that Medtronic will post 5.44 EPS for the current fiscal year.

Institutional Trading of Medtronic

Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Medtronic by 0.9% during the 3rd quarter. State Street Corp now owns 60,731,367 shares of the medical technology company’s stock worth $5,509,155,000 after acquiring an additional 520,027 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Medtronic by 7.1% during the first quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock worth $2,691,577,000 after purchasing an additional 2,044,109 shares during the last quarter. Pzena Investment Management LLC lifted its position in shares of Medtronic by 3.3% during the third quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock worth $772,727,000 after purchasing an additional 275,870 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Medtronic by 436.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock valued at $661,125,000 after purchasing an additional 5,975,110 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Medtronic by 7.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock worth $560,494,000 after purchasing an additional 515,751 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

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.