Medtronic (NYSE:MDT) PT Lowered to $121.00 at Deutsche Bank Aktiengesellschaft

Medtronic (NYSE:MDT – Get Rating) had its target price lowered by equities research analysts at Deutsche Bank Aktiengesellschaft from $149.00 to $121.00 in a note issued to investors on Friday, The Fly reports. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 21.68% from the company’s current price.

Several other research firms have also commented on MDT. Cowen set a $125.00 price target on shares of Medtronic and gave the company an “outperform” rating in a report on Monday. SVB Leerink reiterated a “market perform” rating on shares of Medtronic in a research report on Wednesday, April 13th. Raymond James lowered their target price on Medtronic from $127.00 to $116.00 and set an “outperform” rating on the stock in a research note on Friday, February 18th. Citigroup decreased their target price on shares of Medtronic from $120.00 to $117.00 in a research note on Friday. Finally, Credit Suisse Group decreased their target price on Medtronic from $142.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 23rd. Eleven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $124.96.

Shares of NYSE MDT opened at $99.44 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.61 and a quick ratio of 2.10. The firm has a fifty day moving average price of $107.19 and a 200-day moving average price of $107.19. The stock has a market cap of $133.40 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 2.34 and a beta of 0.74. Medtronic has a 1 year low of $98.18 and a 1 year high of $135.89.

Medtronic (NYSE:MDT – Get Rating) last issued its earnings results on Thursday, May 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.04). Medtronic had a return on equity of 14.57% and a net margin of 15.46%. The firm had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $8.43 billion. During the same period last year, the firm posted $1.50 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, research analysts expect that Medtronic will post 5.66 EPS for the current year.

In other Medtronic news, CFO Karen L. Parkhill sold 682 shares of the business’s stock in a transaction dated Friday, March 18th. The stock was sold at an average price of $110.00, for a total transaction of $75,020.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Carol A. Surface sold 6,000 shares of the business’s stock in a transaction on Friday, March 11th. The shares were sold at an average price of $105.30, for a total transaction of $631,800.00. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of MDT. Dixon Hughes Goodman Wealth Advisors LLC acquired a new stake in shares of Medtronic during the 4th quarter worth about $25,000. PYA Waltman Capital LLC bought a new position in Medtronic in the 4th quarter worth approximately $25,000. Horan Securities Inc. acquired a new position in Medtronic during the 4th quarter valued at about $25,000. Landmark Wealth Management LLC bought a new stake in shares of Medtronic during the first quarter worth approximately $25,000. Finally, Ibex Wealth Advisors acquired a new position in shares of Medtronic during the 3rd quarter worth about $26,000. 80.23% of the stock is owned by institutional investors.

Medtronic Company Profile (Get Rating)

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit. The Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; AF ablation products; insertable cardiac monitor systems; mechanical circulatory support; TYRX products; and remote monitoring and patient-centered software.

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