Medtronic (NYSE:MDT) had its price target lifted by BMO Capital Markets from $107.00 to $118.00 in a report published on Wednesday, BenzingaRatingsTable reports. BMO Capital Markets currently has an outperform rating on the medical technology company’s stock.

Other equities research analysts also recently issued reports about the company. Oppenheimer set a $110.00 price target on Medtronic and gave the company a buy rating in a research report on Monday, July 15th. Needham & Company LLC reaffirmed a buy rating on shares of Medtronic in a research report on Tuesday, July 23rd. Northland Securities reaffirmed a hold rating and issued a $100.00 price target on shares of Medtronic in a research report on Wednesday. Morgan Stanley raised their price target on Medtronic from $105.00 to $111.00 and gave the company an equal weight rating in a research report on Wednesday. Finally, BTIG Research raised their price target on Medtronic to $120.00 and gave the company a buy rating in a research report on Wednesday. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $113.55.

Shares of NYSE:MDT opened at $106.05 on Wednesday. The company has a market cap of $144.62 billion, a P/E ratio of 20.32, a P/E/G ratio of 2.65 and a beta of 0.67. The stock’s 50-day moving average is $101.64 and its 200-day moving average is $94.06. Medtronic has a 52-week low of $81.66 and a 52-week high of $109.70. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.15 and a current ratio of 2.67.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.08. The company had revenue of $7.49 billion for the quarter, compared to the consensus estimate of $7.40 billion. Medtronic had a return on equity of 14.36% and a net margin of 14.41%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business posted $1.17 earnings per share. As a group, equities analysts predict that Medtronic will post 5.56 EPS for the current year.

In related news, SVP Carol A. Surface sold 9,000 shares of Medtronic stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $97.66, for a total transaction of $878,940.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Bradley E. Lerman sold 4,000 shares of Medtronic stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $100.31, for a total value of $401,240.00. Following the sale, the senior vice president now directly owns 52,906 shares in the company, valued at $5,307,000.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,701 shares of company stock worth $9,318,744. 0.28% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in MDT. Comerica Securities Inc. grew its holdings in shares of Medtronic by 3.8% during the 4th quarter. Comerica Securities Inc. now owns 13,521 shares of the medical technology company’s stock worth $1,237,000 after purchasing an additional 491 shares during the period. Cozad Asset Management Inc. grew its holdings in shares of Medtronic by 4.6% during the 1st quarter. Cozad Asset Management Inc. now owns 3,119 shares of the medical technology company’s stock worth $284,000 after purchasing an additional 137 shares during the period. Brookstone Capital Management purchased a new position in shares of Medtronic during the 1st quarter worth $223,000. Sage Rhino Capital LLC purchased a new position in shares of Medtronic during the 1st quarter worth $267,000. Finally, Saratoga Research & Investment Management grew its holdings in shares of Medtronic by 0.5% during the 1st quarter. Saratoga Research & Investment Management now owns 388,536 shares of the medical technology company’s stock worth $35,388,000 after purchasing an additional 2,079 shares during the period. 80.62% 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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