Robert W. Baird Issues Positive Forecast for Medtronic (NYSE:MDT) Stock Price

Medtronic (NYSE:MDT) had its target price hoisted by research analysts at Robert W. Baird from $90.00 to $96.00 in a research note issued to investors on Friday. Robert W. Baird’s price objective indicates a potential upside of 9.68% from the company’s previous close.

Several other equities analysts have also recently issued reports on MDT. Piper Sandler boosted their price objective on Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Wells Fargo & Company raised their target price on Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Oppenheimer raised their price objective on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a report on Wednesday, August 21st. UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and upped their target price for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. Finally, Daiwa America raised shares of Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $95.80.

Medtronic Trading Up 1.8 %

Medtronic stock opened at $87.53 on Friday. The stock has a 50-day moving average price of $89.48 and a 200 day moving average price of $84.74. The company has a market capitalization of $112.25 billion, a price-to-earnings ratio of 29.57, a price-to-earnings-growth ratio of 2.51 and a beta of 0.84. Medtronic has a 52 week low of $74.20 and a 52 week high of $92.68. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.20 by $0.03. The business had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.20 EPS. Sell-side analysts anticipate that Medtronic will post 5.44 EPS for the current year.

Institutional Trading of Medtronic

Several hedge funds have recently made changes to their positions in MDT. Fortitude Family Office LLC acquired a new stake in shares of Medtronic during the 3rd quarter worth about $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic in the 3rd quarter worth approximately $27,000. Darwin Wealth Management LLC acquired a new stake in Medtronic in the 3rd quarter valued at approximately $27,000. Lynx Investment Advisory acquired a new position in Medtronic during the second quarter worth $28,000. Finally, J. Stern & Co. LLP acquired a new stake in shares of Medtronic in the third quarter valued at $30,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

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.