Medtronic (NYSE:MDT) Stock Price Up 0.5% – Should You Buy?

Medtronic plc (NYSE:MDT) shares traded up 0.5% during mid-day trading on Friday . The company traded as high as $85.46 and last traded at $85.13. 721,557 shares were traded during mid-day trading, a decline of 88% from the average session volume of 6,247,545 shares. The stock had previously closed at $84.74.

Analyst Ratings Changes

A number of equities research analysts have commented on MDT shares. Truist Financial raised their price objective on Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, October 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Monday. Piper Sandler lifted their price target on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Evercore ISI lifted their target price on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Oppenheimer upped their price target on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $95.19.

Medtronic Trading Up 1.2 %

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.61. The firm has a market cap of $110.01 billion, a P/E ratio of 26.03, a PEG ratio of 2.42 and a beta of 0.84. The company’s 50 day moving average is $89.07 and its two-hundred day moving average is $84.84.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.25 earnings per share. On average, sell-side analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Hedge Funds Weigh In On Medtronic

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

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.