Medtronic (NYSE:MDT) Given Sector Perform Rating at Royal Bank of Canada

Medtronic (NYSE:MDT)‘s stock had its “sector perform” rating restated by equities research analysts at Royal Bank of Canada in a research report issued to clients and investors on Friday, Benzinga reports. 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 12.33% from the company’s previous close.

A number of other research analysts also recently issued reports on MDT. UBS Group increased their price objective on Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Friday. Oppenheimer lifted their price objective on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 21st. Wells Fargo & Company raised their target price on shares of Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Mizuho upped their price target on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $94.45.

Medtronic Trading Up 0.6 %

Shares of Medtronic stock traded up $0.52 during trading on Friday, hitting $81.90. 1,425,624 shares of the company were exchanged, compared to its average volume of 6,109,862. The firm has a market capitalization of $108.75 billion, a P/E ratio of 26.08, a price-to-earnings-growth ratio of 2.79 and a beta of 0.78. The firm’s fifty day moving average price is $82.84 and its 200 day moving average price is $82.62. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. Medtronic has a 1-year low of $68.84 and a 1-year high of $91.00.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.01. The company had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.44 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the firm posted $1.57 earnings per share. As a group, sell-side analysts expect that Medtronic will post 5.2 earnings per share for the current fiscal year.

Insider Transactions at Medtronic

In other Medtronic news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.30% of the stock is owned by insiders.

Institutional Trading of Medtronic

Hedge funds have recently added to or reduced their stakes in the stock. Equity Investment Corp boosted its stake in shares of Medtronic by 27.9% during the fourth quarter. Equity Investment Corp now owns 1,341,079 shares of the medical technology company’s stock valued at $110,478,000 after purchasing an additional 292,459 shares in the last quarter. Loudon Investment Management LLC raised its stake in shares of Medtronic by 9.5% during the fourth quarter. Loudon Investment Management LLC now owns 10,026 shares of the medical technology company’s stock valued at $786,000 after acquiring an additional 874 shares during the last quarter. BKM Wealth Management LLC acquired a new position in shares of Medtronic during the fourth quarter worth $941,000. International Assets Investment Management LLC grew its stake in shares of Medtronic by 8,340.3% in the fourth quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company’s stock worth $85,558,000 after purchasing an additional 1,026,274 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Medtronic by 69.3% in the third quarter. Tower Research Capital LLC TRC now owns 40,476 shares of the medical technology company’s stock valued at $3,172,000 after purchasing an additional 16,574 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

About Medtronic

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.