Needham & Company LLC Reaffirms Hold Rating for Medtronic (NYSE:MDT)

Medtronic (NYSE:MDT)‘s stock had its “hold” rating reissued by research analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports.

A number of other research firms also recently weighed in on MDT. Sanford C. Bernstein raised their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Truist Financial decreased their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. JPMorgan Chase & Co. decreased their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Barclays lifted their price objective on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Robert W. Baird lifted their price objective on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $95.20.

Medtronic Price Performance

NYSE:MDT opened at $88.14 on Wednesday. The firm has a market capitalization of $113.02 billion, a price-to-earnings ratio of 26.79, a P/E/G ratio of 2.44 and a beta of 0.84. Medtronic has a 52-week low of $75.96 and a 52-week high of $93.08. The stock has a fifty day moving average of $85.93 and a 200 day moving average of $87.03. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.11% and a net margin of 12.83%. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. On average, research analysts expect that Medtronic will post 5.45 EPS for the current fiscal year.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by insiders.

Institutional Trading of Medtronic

Large investors have recently bought and sold shares of the company. Mainstream Capital Management LLC bought a new stake in Medtronic during the 4th quarter valued at approximately $26,000. Fortitude Family Office LLC bought a new stake in Medtronic during the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC bought a new stake in Medtronic during the 3rd quarter valued at approximately $27,000. Darwin Wealth Management LLC bought a new stake in Medtronic during the 3rd quarter valued at approximately $27,000. Finally, Stephens Consulting LLC boosted its position in Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 204 shares in the last quarter. 82.06% of the stock is 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.