Medtronic’s (MDT) Hold Rating Reaffirmed at Needham & Company LLC

Medtronic (NYSE:MDT)‘s stock had its “hold” rating restated by equities researchers at Needham & Company LLC in a report released on Wednesday,Benzinga reports.

A number of other equities analysts have also issued reports on the company. JPMorgan Chase & Co. decreased their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Wells Fargo & Company decreased their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Barclays boosted their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Truist Financial cut their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Finally, Robert W. Baird boosted their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Medtronic has a consensus rating of “Hold” and an average price target of $94.87.

Medtronic Price Performance

Shares of NYSE MDT opened at $86.05 on Wednesday. The stock has a market cap of $110.34 billion, a P/E ratio of 26.32, a P/E/G ratio of 2.63 and a beta of 0.84. The firm’s 50-day simple moving average is $85.74 and its 200 day simple moving average is $87.02. Medtronic has a fifty-two week low of $75.96 and a fifty-two week high of $93.08. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. Equities analysts expect that Medtronic will post 5.45 EPS for the current year.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, the executive vice president now owns 40,979 shares of the company’s stock, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by insiders.

Institutional Trading of Medtronic

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Medtronic by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company’s stock worth $9,921,367,000 after buying an additional 754,395 shares in the last quarter. State Street Corp increased its stake in shares of Medtronic by 0.9% in the third quarter. State Street Corp now owns 60,731,367 shares of the medical technology company’s stock worth $5,509,155,000 after acquiring an additional 520,027 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Medtronic by 1.8% during the fourth quarter. Capital Research Global Investors now owns 33,203,685 shares of the medical technology company’s stock worth $2,652,310,000 after acquiring an additional 571,700 shares in the last quarter. Geode Capital Management LLC boosted its position in Medtronic by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 27,056,217 shares of the medical technology company’s stock valued at $2,155,085,000 after purchasing an additional 574,055 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in Medtronic by 2.1% in the fourth quarter. Deutsche Bank AG now owns 18,443,640 shares of the medical technology company’s stock valued at $1,473,278,000 after purchasing an additional 372,168 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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.