Medtronic (NYSE:MDT) Price Target Lowered to $96.00 at JPMorgan Chase & Co.

Medtronic (NYSE:MDT) had its price objective dropped by investment analysts at JPMorgan Chase & Co. from $99.00 to $96.00 in a report issued on Friday. The firm presently has a “neutral” rating on the medical technology company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 9.84% from the company’s current price.

A number of other equities analysts also recently commented on the company. UBS Group raised Medtronic from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Friday, October 25th. Truist Financial increased their target price on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, October 14th. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Finally, Stifel Nicolaus raised their price target on Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Medtronic has an average rating of “Hold” and an average target price of $95.80.

Medtronic Trading Up 1.6 %

Shares of Medtronic stock traded up $1.40 on Friday, reaching $87.40. The company had a trading volume of 4,724,437 shares, compared to its average volume of 6,210,865. 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 firm has a market cap of $112.09 billion, a PE ratio of 29.53, a PEG ratio of 2.51 and a beta of 0.84. The firm’s 50 day moving average price is $89.52 and its two-hundred day moving average price is $84.67. Medtronic has a 52-week low of $74.20 and a 52-week high of $92.68.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.03. The firm had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.20 EPS. Sell-side analysts predict that Medtronic will post 5.44 earnings per share for the current fiscal year.

Institutional Trading of Medtronic

Institutional investors have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC purchased a new stake in shares of Medtronic in the 3rd quarter worth about $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic in the third quarter valued at approximately $27,000. Darwin Wealth Management LLC purchased a new position in shares of Medtronic during the 3rd quarter worth approximately $27,000. Lynx Investment Advisory acquired a new position in shares of Medtronic during the 2nd quarter worth approximately $28,000. Finally, J. Stern & Co. LLP purchased a new stake in Medtronic in the 3rd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

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.