Medtronic (NYSE:MDT) had its target price boosted by SunTrust Banks to $110.00 in a report published on Friday morning, The Fly reports. They currently have a buy rating on the medical technology company’s stock.

Other research analysts have also issued research reports about the company. Needham & Company LLC raised Medtronic from a buy rating to a strong-buy rating and boosted their price target for the stock from $103.00 to $119.00 in a research report on Monday, August 13th. Citigroup boosted their price target on Medtronic from $104.00 to $109.00 and gave the stock a buy rating in a research report on Friday. Oppenheimer reaffirmed a buy rating and set a $96.00 price target on shares of Medtronic in a research report on Thursday, May 24th. Wells Fargo & Co boosted their price target on Medtronic from $95.00 to $101.00 and gave the stock a market perform rating in a research report on Wednesday. Finally, Morgan Stanley boosted their price target on Medtronic from $95.00 to $105.00 and gave the stock an equal weight rating in a research report on Wednesday. One 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 stock. Medtronic currently has an average rating of Buy and an average price target of $99.92.

NYSE:MDT opened at $95.55 on Friday. The company has a market cap of $129.20 billion, a price-to-earnings ratio of 20.03, a P/E/G ratio of 2.60 and a beta of 0.94. Medtronic has a twelve month low of $76.41 and a twelve month high of $96.50. The company has a current ratio of 2.46, a quick ratio of 1.92 and a debt-to-equity ratio of 0.47.

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

In other Medtronic news, Director Richard H. Anderson bought 2,600 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The shares were acquired at an average cost of $95.88 per share, with a total value of $249,288.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michael J. Coyle sold 145,544 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $95.50, for a total value of $13,899,452.00. Following the transaction, the executive vice president now directly owns 190,680 shares in the company, valued at $18,209,940. The disclosure for this sale can be found here. Insiders have sold a total of 165,954 shares of company stock worth $15,675,013 over the last three months. 0.31% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Medtronic by 2.1% in the 2nd quarter. BlackRock Inc. now owns 97,867,667 shares of the medical technology company’s stock valued at $8,378,448,000 after purchasing an additional 1,966,789 shares during the period. Bank of New York Mellon Corp boosted its stake in Medtronic by 11.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 15,717,199 shares of the medical technology company’s stock valued at $1,345,549,000 after purchasing an additional 1,589,932 shares during the period. Rockefeller Capital Management L.P. bought a new stake in Medtronic in the 1st quarter valued at $109,787,000. Westwood Holdings Group Inc. bought a new stake in Medtronic in the 1st quarter valued at $105,098,000. Finally, Artisan Partners Limited Partnership boosted its stake in Medtronic by 4.2% in the 2nd quarter. Artisan Partners Limited Partnership now owns 23,443,933 shares of the medical technology company’s stock valued at $2,007,035,000 after purchasing an additional 939,892 shares during the period. 80.05% of the stock is currently owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Medtronic (NYSE:MDT)

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