Medtronic (NYSE:MDT) Stock Rating Upgraded by The Goldman Sachs Group

Medtronic (NYSE:MDT) was upgraded by The Goldman Sachs Group to a “hold” rating in a report issued on Thursday, MarketBeat reports. The firm currently has a $84.00 price target on the medical technology company’s stock. The Goldman Sachs Group’s price target points to a potential upside of 6.79% from the company’s current price.

MDT has been the topic of several other reports. Mizuho decreased their price objective on shares of Medtronic from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Needham & Company LLC reissued a “buy” rating and issued a $120.00 target price on shares of Medtronic in a research report on Thursday, March 26th. Jefferies Financial Group reissued a “hold” rating and issued a $95.00 target price on shares of Medtronic in a research report on Thursday, April 23rd. Evercore set a $106.00 target price on shares of Medtronic and gave the company an “outperform” rating in a research report on Thursday, April 9th. Finally, Barclays boosted their target price on shares of Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, April 1st. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and a consensus price target of $106.45.

Medtronic Price Performance

NYSE:MDT opened at $78.66 on Thursday. Medtronic has a one year low of $74.40 and a one year high of $106.33. The company has a market cap of $100.99 billion, a P/E ratio of 21.91, a P/E/G ratio of 1.86 and a beta of 0.62. The firm’s fifty day moving average price is $83.50 and its two-hundred day moving average price is $93.15. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 17th. The medical technology company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.34 by $0.02. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The firm had revenue of $9.02 billion for the quarter, compared to the consensus estimate of $8.89 billion. During the same period in the previous year, the company earned $1.38 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Equities analysts expect that Medtronic will post 5.56 earnings per share for the current year.

Institutional Investors Weigh In On Medtronic

Several institutional investors and hedge funds have recently bought and sold shares of the company. Curbstone Financial Management Corp lifted its position in Medtronic by 1.8% during the fourth quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company’s stock worth $537,000 after purchasing an additional 100 shares during the period. New England Capital Financial Advisors LLC lifted its position in Medtronic by 7.8% during the fourth quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company’s stock worth $135,000 after purchasing an additional 101 shares during the period. Ipsen Advisor Group LLC lifted its holdings in shares of Medtronic by 1.7% in the fourth quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company’s stock worth $572,000 after acquiring an additional 101 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Medtronic by 0.3% in the fourth quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company’s stock worth $3,120,000 after acquiring an additional 101 shares during the last quarter. Finally, Baker Tilly Wealth Management LLC lifted its holdings in shares of Medtronic by 3.3% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 3,221 shares of the medical technology company’s stock worth $309,000 after acquiring an additional 102 shares during the last quarter. 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).