Medtronic (NYSE:MDT)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank of Canada in a research report issued to clients and investors on Wednesday. They currently have a $92.00 price objective on the medical technology company’s stock. Royal Bank of Canada’s target price points to a potential upside of 14.68% from the stock’s previous close.

A number of other research analysts have also recently commented on MDT. Cowen restated a “buy” rating and issued a $95.00 price target on shares of Medtronic in a research report on Friday, November 3rd. SunTrust Banks restated a “buy” rating and issued a $96.00 price target on shares of Medtronic in a research report on Friday, November 3rd. Needham & Company LLC restated a “buy” rating and issued a $94.00 price target on shares of Medtronic in a research report on Thursday, November 9th. Stifel Nicolaus raised their price target on Medtronic from $83.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, November 22nd. Finally, Oppenheimer restated a “buy” rating and issued a $94.00 price target on shares of Medtronic in a research report on Wednesday, November 22nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $90.45.

Medtronic (NYSE MDT) opened at $80.22 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 2.05. Medtronic has a 12-month low of $76.46 and a 12-month high of $89.72. The company has a market capitalization of $108,604.67, a price-to-earnings ratio of 21.98, a P/E/G ratio of 2.21 and a beta of 0.93.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.08. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The company had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter last year, the business earned $1.12 earnings per share. Medtronic’s revenue was down 4.0% on a year-over-year basis. analysts expect that Medtronic will post 4.76 EPS for the current fiscal year.

In other news, EVP Hooman Hakami sold 26,158 shares of Medtronic stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $85.00, for a total transaction of $2,223,430.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Richard Kuntz sold 78,526 shares of Medtronic stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total value of $6,769,726.46. Following the sale, the vice president now directly owns 149,761 shares in the company, valued at $12,910,895.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 136,684 shares of company stock worth $11,582,596. Company insiders own 0.31% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Hudock Capital Group LLC boosted its stake in shares of Medtronic by 0.5% during the second quarter. Hudock Capital Group LLC now owns 2,195 shares of the medical technology company’s stock valued at $194,000 after purchasing an additional 11 shares in the last quarter. Arcus Capital Partners LLC boosted its stake in shares of Medtronic by 0.8% during the second quarter. Arcus Capital Partners LLC now owns 3,249 shares of the medical technology company’s stock valued at $288,000 after purchasing an additional 25 shares in the last quarter. Fiera Capital Corp boosted its stake in shares of Medtronic by 0.5% during the second quarter. Fiera Capital Corp now owns 6,832 shares of the medical technology company’s stock valued at $606,000 after purchasing an additional 37 shares in the last quarter. Chemical Bank boosted its stake in shares of Medtronic by 0.4% during the second quarter. Chemical Bank now owns 11,623 shares of the medical technology company’s stock valued at $1,031,000 after purchasing an additional 46 shares in the last quarter. Finally, Flagship Harbor Advisors LLC boosted its stake in shares of Medtronic by 1.0% during the second quarter. Flagship Harbor Advisors LLC now owns 4,724 shares of the medical technology company’s stock valued at $410,000 after purchasing an additional 47 shares in the last quarter. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

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Medtronic Company Profile

Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.

Analyst Recommendations for Medtronic (NYSE:MDT)

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