Medtronic (NYSE:MDT) had its price objective lifted by Morgan Stanley from $95.00 to $105.00 in a research note issued to investors on Wednesday. They currently have an equal weight rating on the medical technology company’s stock.

Several other research analysts also recently commented on the stock. Needham & Company LLC raised shares of Medtronic from a buy rating to a strong-buy rating and lifted their price target for the stock from $103.00 to $119.00 in a research note on Monday, August 13th. Zacks Investment Research downgraded shares of Medtronic from a hold rating to a sell rating in a research note on Tuesday, August 7th. Raymond James initiated coverage on shares of Medtronic in a research note on Thursday, May 31st. They set an outperform rating and a $96.00 price target on the stock. William Blair initiated coverage on shares of Medtronic in a research note on Wednesday, June 6th. They set a market perform rating on the stock. Finally, Piper Jaffray Companies lifted their price target on shares of Medtronic to $96.00 and gave the stock an overweight rating in a research note on Friday, May 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $99.92.

Shares of Medtronic stock opened at $95.55 on Wednesday. Medtronic has a 1 year low of $76.41 and a 1 year high of $96.50. The company has a market cap of $129.20 billion, a price-to-earnings ratio of 19.79, a P/E/G ratio of 2.60 and a beta of 0.94. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.46 and a quick ratio of 1.92.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 21st. The medical technology company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.06. The business had revenue of $7.38 billion during the quarter, compared to analyst estimates of $7.24 billion. Medtronic had a net margin of 10.56% and a return on equity of 12.98%. Medtronic’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the business posted $1.12 earnings per share. equities research analysts predict that Medtronic will post 5.12 earnings per share for the current fiscal year.

In related news, SVP Bradley E. Lerman sold 8,910 shares of Medtronic stock in a transaction on Monday, June 11th. The shares were sold at an average price of $86.82, for a total value of $773,566.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Richard Kuntz sold 11,500 shares of Medtronic stock in a transaction on Friday, June 8th. The stock was sold at an average price of $87.13, for a total transaction of $1,001,995.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 165,954 shares of company stock worth $15,675,013. 0.31% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of MDT. Global X Management Co. LLC increased its stake in shares of Medtronic by 15.5% in the first quarter. Global X Management Co. LLC now owns 25,461 shares of the medical technology company’s stock worth $2,042,000 after buying an additional 3,414 shares during the period. Cohen Capital Management Inc. purchased a new position in shares of Medtronic in the first quarter worth $5,522,000. Diamond Hill Capital Management Inc. increased its position in Medtronic by 4.0% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 4,227,340 shares of the medical technology company’s stock valued at $339,117,000 after purchasing an additional 161,270 shares during the period. HL Financial Services LLC increased its position in Medtronic by 5.2% during the 1st quarter. HL Financial Services LLC now owns 20,443 shares of the medical technology company’s stock valued at $1,640,000 after purchasing an additional 1,015 shares during the period. Finally, FDx Advisors Inc. increased its position in Medtronic by 10.7% during the 1st quarter. FDx Advisors Inc. now owns 44,868 shares of the medical technology company’s stock valued at $3,599,000 after purchasing an additional 4,319 shares during the period. 80.05% of the stock is currently owned by institutional investors.

Medtronic Company Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

Read More: Market Capitalization – What it Means for Investors

Analyst Recommendations for Medtronic (NYSE:MDT)

Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.