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

Medtronic (NYSE:MDT) had its price target raised by Robert W. Baird from $90.00 to $96.00 in a research note released on Friday morning.

A number of other equities research analysts have also recently weighed in on MDT. Truist Financial lifted their price objective on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Citigroup upped their price target on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Friday, October 25th. Piper Sandler boosted their target price on Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Finally, UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and increased their price target for the company from $76.00 to $90.00 in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $95.80.

Medtronic Stock Performance

NYSE:MDT traded up $1.53 during mid-day trading on Friday, hitting $87.53. The stock had a trading volume of 7,952,317 shares, compared to its average volume of 6,225,400. Medtronic has a 52 week low of $74.20 and a 52 week high of $92.68. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $112.25 billion, a price-to-earnings ratio of 29.57, a P/E/G ratio of 2.51 and a beta of 0.84. The company has a 50 day simple moving average of $89.48 and a 200-day simple moving average of $84.71.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MDT. Fortitude Family Office LLC acquired a new stake in Medtronic during the 3rd quarter valued at $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic during the third quarter valued at $27,000. Darwin Wealth Management LLC acquired a new position in Medtronic during the third quarter valued at $27,000. Lynx Investment Advisory purchased a new stake in Medtronic in the 2nd quarter worth about $28,000. Finally, J. Stern & Co. LLP acquired a new stake in Medtronic during the 3rd quarter worth about $30,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

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.