Medtronic (NYSE:MDT – Get Free Report) was upgraded by equities researchers at The Goldman Sachs Group to a “hold” rating in a report released on Thursday,Zacks.com reports.
A number of other equities analysts also recently weighed in on the stock. Piper Sandler lowered their target price on shares of Medtronic from $105.00 to $91.00 and set a “neutral” rating on the stock in a report on Wednesday, April 1st. Jefferies Financial Group restated a “hold” rating and set a $95.00 target price on shares of Medtronic in a report on Thursday, April 23rd. CICC Research assumed coverage on shares of Medtronic in a research report on Friday, January 30th. They set an “outperform” rating for the company. UBS Group reduced their price objective on shares of Medtronic from $104.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, April 22nd. Finally, Wells Fargo & Company assumed coverage on shares of Medtronic in a research report on Friday, January 30th. They set an “overweight” rating and a $114.00 price objective for the company. Fifteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and an average price target of $106.45.
View Our Latest Stock Report on MDT
Medtronic Price Performance
Medtronic (NYSE:MDT – Get Free Report) last issued its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The business had revenue of $9.02 billion for the quarter, compared to the consensus estimate of $8.89 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.38 earnings per share. On average, research analysts forecast that Medtronic will post 5.56 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Medtronic
Institutional investors have recently modified their holdings of the business. Monetary Solutions Ltd bought a new stake in shares of Medtronic in the fourth quarter valued at about $27,000. Lodestone Wealth Management LLC bought a new stake in shares of Medtronic in the fourth quarter valued at about $27,000. Anfield Capital Management LLC raised its stake in Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 230 shares in the last quarter. Board of the Pension Protection Fund acquired a new position in Medtronic in the fourth quarter valued at about $29,000. Finally, GoalVest Advisory LLC acquired a new position in Medtronic in the fourth quarter valued at about $29,000. Institutional investors own 82.06% of the company’s stock.
About Medtronic
Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.
Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).
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