Medtronic (NYSE:MDT) had its price target lowered by Truist from $148.00 to $142.00 in a research note released on Wednesday, The Fly reports. Truist currently has a buy rating on the medical technology company’s stock.
A number of other brokerages also recently issued reports on MDT. UBS Group upped their price target on Medtronic from $145.00 to $149.00 and gave the company a buy rating in a report on Wednesday, August 25th. Piper Sandler reaffirmed an overweight rating and issued a $152.00 price target (up from $140.00) on shares of Medtronic in a report on Tuesday, August 24th. Citigroup lowered their price target on Medtronic from $153.00 to $146.00 and set a buy rating for the company in a report on Wednesday. BTIG Research downgraded Medtronic from a buy rating to a neutral rating in a report on Monday, August 9th. Finally, Wells Fargo & Company lowered their price target on Medtronic from $144.00 to $137.00 and set an overweight rating for the company in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Buy and a consensus target price of $142.50.
MDT stock opened at $114.44 on Wednesday. Medtronic has a 1 year low of $110.06 and a 1 year high of $135.89. The firm has a market capitalization of $153.80 billion, a P/E ratio of 40.01, a P/E/G ratio of 3.09 and a beta of 0.76. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.89 and a quick ratio of 2.34. The business’s 50-day moving average is $123.16 and its two-hundred day moving average is $126.17.
In other Medtronic news, SVP Bradley E. Lerman sold 49,147 shares of the stock in a transaction on Thursday, September 30th. The stock was sold at an average price of $126.58, for a total value of $6,221,027.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Bradley E. Lerman sold 50,775 shares of the stock in a transaction on Tuesday, August 31st. The stock was sold at an average price of $134.17, for a total value of $6,812,481.75. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of MDT. Ibex Wealth Advisors acquired a new stake in shares of Medtronic during the third quarter valued at $26,000. MD Financial Management Inc. boosted its stake in shares of Medtronic by 100.0% during the third quarter. MD Financial Management Inc. now owns 210 shares of the medical technology company’s stock valued at $26,000 after acquiring an additional 105 shares during the last quarter. Mascoma Wealth Management LLC acquired a new stake in shares of Medtronic during the third quarter valued at $34,000. Selective Wealth Management Inc. boosted its stake in shares of Medtronic by 459.2% during the third quarter. Selective Wealth Management Inc. now owns 274 shares of the medical technology company’s stock valued at $34,000 after acquiring an additional 225 shares during the last quarter. Finally, Corbenic Partners LLC boosted its stake in shares of Medtronic by 264.2% during the second quarter. Corbenic Partners LLC now owns 295 shares of the medical technology company’s stock valued at $37,000 after acquiring an additional 214 shares during the last quarter. 79.58% of the stock is currently owned by institutional investors.
Medtronic Company Profile
Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiac and Vascular Group; Minimally Invasive Technologies Group; Restorative Therapies Group; and Diabetes Group.
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