Stifel Nicolaus Trims Medtronic PLC (MDT) Target Price to $83.00

Medtronic PLC (NYSE:MDT) had its target price dropped by equities researchers at Stifel Nicolaus from $91.00 to $83.00 in a report issued on Monday. The firm currently has a “hold” rating on the medical technology company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 4.00% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Zacks Investment Research downgraded Medtronic PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. BMO Capital Markets reiterated an “outperform” rating and set a $92.00 price target (down previously from $94.00) on shares of Medtronic PLC in a research note on Wednesday, August 23rd. BidaskClub downgraded Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Barclays PLC dropped their price target on Medtronic PLC from $94.00 to $92.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 23rd. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $103.00 price target on shares of Medtronic PLC in a research note on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $88.33.

Medtronic PLC (MDT) opened at 79.81 on Monday. The firm has a 50-day moving average price of $80.14 and a 200-day moving average price of $83.32. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.72. The company has a market cap of $108.11 billion, a P/E ratio of 26.86 and a beta of 1.01.

Medtronic PLC (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The business had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.44 billion. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 EPS. On average, analysts forecast that Medtronic PLC will post $4.77 earnings per share for the current fiscal year.

Medtronic PLC declared that its Board of Directors has approved a share repurchase plan on Friday, June 23rd that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical technology company to buy up to 49% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

COPYRIGHT VIOLATION WARNING: “Stifel Nicolaus Trims Medtronic PLC (MDT) Target Price to $83.00” was posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of US and international trademark and copyright laws. The legal version of this piece of content can be viewed at https://ledgergazette.com/2017/10/09/stifel-nicolaus-trims-medtronic-plc-mdt-target-price-to-83-00.html.

In other Medtronic PLC news, EVP Bryan C. Hanson sold 12,000 shares of the stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $88.57, for a total transaction of $1,062,840.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Omar Ishrak sold 140,407 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $81.63, for a total value of $11,461,423.41. Following the transaction, the chief executive officer now directly owns 668,503 shares of the company’s stock, valued at approximately $54,569,899.89. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Medtronic PLC by 2.4% during the second quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock valued at $9,298,872,000 after acquiring an additional 2,454,380 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Medtronic PLC by 2.8% during the second quarter. BlackRock Inc. now owns 89,512,229 shares of the medical technology company’s stock valued at $7,944,210,000 after acquiring an additional 2,476,853 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Medtronic PLC by 3.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 58,646,070 shares of the medical technology company’s stock valued at $4,724,526,000 after acquiring an additional 1,729,715 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Medtronic PLC by 43.8% during the second quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock valued at $1,745,699,000 after acquiring an additional 5,991,094 shares during the last quarter. Finally, Geode Capital Management LLC raised its

Several other analysts also recently weighed in on the company. Zacks Investment Research downgraded Medtronic PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. BMO Capital Markets reiterated an “outperform” rating and set a $92.00 price target (down previously from $94.00) on shares of Medtronic PLC in a research note on Wednesday, August 23rd. BidaskClub downgraded Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Barclays PLC dropped their price target on Medtronic PLC from $94.00 to $92.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 23rd. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $103.00 price target on shares of Medtronic PLC in a research note on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $88.33.

Medtronic PLC (MDT) opened at 79.81 on Monday. The firm has a 50-day moving average price of $80.14 and a 200-day moving average price of $83.32. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.72. The company has a market cap of $108.11 billion, a P/E ratio of 26.86 and a beta of 1.01.

Medtronic PLC (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The business had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.44 billion. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 EPS. On average, analysts forecast that Medtronic PLC will post $4.77 earnings per share for the current fiscal year.

Medtronic PLC declared that its Board of Directors has approved a share repurchase plan on Friday, June 23rd that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical technology company to buy up to 49% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

COPYRIGHT VIOLATION WARNING: “Stifel Nicolaus Trims Medtronic PLC (MDT) Target Price to $83.00” was posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of US and international trademark and copyright laws. The legal version of this piece of content can be viewed at https://ledgergazette.com/2017/10/09/stifel-nicolaus-trims-medtronic-plc-mdt-target-price-to-83-00.html.

In other Medtronic PLC news, EVP Bryan C. Hanson sold 12,000 shares of the stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $88.57, for a total transaction of $1,062,840.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Omar Ishrak sold 140,407 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $81.63, for a total value of $11,461,423.41. Following the transaction, the chief executive officer now directly owns 668,503 shares of the company’s stock, valued at approximately $54,569,899.89. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Medtronic PLC by 2.4% during the second quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock valued at $9,298,872,000 after acquiring an additional 2,454,380 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Medtronic PLC by 2.8% during the second quarter. BlackRock Inc. now owns 89,512,229 shares of the medical technology company’s stock valued at $7,944,210,000 after acquiring an additional 2,476,853 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Medtronic PLC by 3.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 58,646,070 shares of the medical technology company’s stock valued at $4,724,526,000 after acquiring an additional 1,729,715 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Medtronic PLC by 43.8% during the second quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock valued at $1,745,699,000 after acquiring an additional 5,991,094 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Medtronic PLC by 7.3% during the first quarter. Geode Capital Management LLC now owns 13,308,812 shares of the medical technology company’s stock valued at $1,070,622,000 after acquiring an additional 906,581 shares during the last quarter. 80.63% of the stock is owned by institutional investors and hedge funds.

Medtronic PLC Company Profile

Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.

Analyst Recommendations for Medtronic PLC (NYSE:MDT)

Receive News & Ratings for Medtronic PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic PLC and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply