Medtronic (NYSE:MDT) Given “Hold” Rating at Needham & Company LLC

Medtronic (NYSE:MDT)‘s stock had its “hold” rating reissued by Needham & Company LLC in a research report issued on Monday,Benzinga reports.

Other equities analysts have also issued research reports about the company. Barclays raised their price target on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Oppenheimer lifted their price objective on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research report on Friday, August 23rd. Finally, Citigroup lifted their target price on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $95.80.

Medtronic Stock Up 1.8 %

MDT opened at $87.53 on Monday. Medtronic has a one year low of $74.20 and a one year high of $92.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. The stock has a market capitalization of $112.25 billion, a P/E ratio of 29.57, a price-to-earnings-growth ratio of 2.50 and a beta of 0.84. The business’s 50-day simple moving average is $89.48 and its 200-day simple moving average is $84.77.

Medtronic (NYSE:MDT) last released its quarterly earnings results 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. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The firm had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. Medtronic’s revenue for the quarter was up 3.4% on a year-over-year basis. Analysts anticipate that Medtronic will post 5.44 EPS for the current year.

Hedge Funds Weigh In On Medtronic

Hedge funds and other institutional investors have recently bought and sold shares of the company. Clear Harbor Asset Management LLC increased its position in shares of Medtronic by 1.2% in the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after buying an additional 111 shares in the last quarter. Guardian Wealth Management Inc. grew its stake in Medtronic by 0.9% in the 3rd quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock valued at $1,182,000 after acquiring an additional 115 shares during the last quarter. First PREMIER Bank increased its holdings in Medtronic by 1.8% during the 3rd quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after acquiring an additional 116 shares in the last quarter. First City Capital Management Inc. raised its position in Medtronic by 2.9% during the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock worth $371,000 after acquiring an additional 116 shares during the last quarter. Finally, Hardy Reed LLC lifted its holdings in shares of Medtronic by 4.4% in the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock valued at $247,000 after purchasing an additional 116 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

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.