November 23, 2016 - By Ellis Scott
Barclays have a $85.00 target price per share on the stock. The target price per share gives a potential upside of 12.06% from Medtronic plc (NYSE:MDT)‘s last stock close price. This rating was shown in an analyst report on Wednesday morning.
Out of 17 analysts covering Medtronic (NYSE:MDT), 13 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 76% are positive. $102 is the highest target while $82 is the lowest. The $90.43 average target is 19.22% above today’s ($75.85) stock price. Medtronic has been the topic of 23 analyst reports since August 10, 2015 according to StockzIntelligence Inc. Nomura initiated the stock with “Buy” rating in Thursday, March 17 report. The stock of Medtronic PLC (NYSE:MDT) has “Buy” rating given on Tuesday, August 23 by Citigroup. Credit Suisse reinitiated the stock with “Outperform” rating in Monday, August 10 report. The stock of Medtronic PLC (NYSE:MDT) has “Neutral” rating given on Wednesday, June 1 by BTIG Research. As per Tuesday, September 29, the company rating was maintained by RBC Capital Markets. Credit Suisse maintained Medtronic PLC (NYSE:MDT) on Monday, November 23 with “Outperform” rating. The firm earned “Buy” rating on Friday, August 26 by UBS. The firm has “Hold” rating given on Friday, September 4 by Jefferies. Jefferies maintained it with “Buy” rating and $100 target price in Friday, August 26 report. Wedbush maintained it with “Neutral” rating and $82 target price in Wednesday, June 1 report.
About 10.74 million shares traded hands or 76.64% up from the average. Medtronic PLC (NYSE:MDT) has declined 6.27% since April 21, 2016 and is downtrending. It has underperformed by 11.60% the S&P500.
Insitutional Activity: The institutional sentiment decreased to 0.73 in 2016 Q2. Its down 0.07, from 0.8 in 2016Q1. The ratio worsened, as 60 funds sold all Medtronic PLC shares owned while 508 reduced positions. 93 funds bought stakes while 361 increased positions. They now own 1.03 billion shares or 1.89% more from 1.01 billion shares in 2016Q1.
Monetary Mgmt holds 13,712 shares or 0.55% of its portfolio. Arrowgrass Capital Prtn (Us) Lp last reported 0.01% of its portfolio in the stock. Fin Mngmt Professionals Inc holds 125 shares or 0.01% of its portfolio. Boston Research &, a Massachusetts-based fund reported 39,164 shares. Vontobel Asset Mgmt Incorporated last reported 2.28 million shares in the company. Sirios Capital Ltd Partnership has 0.6% invested in the company for 144,158 shares. Millennium Ltd has invested 0.11% of its portfolio in Medtronic PLC (NYSE:MDT). At Comml Bank last reported 8,685 shares in the company. John G Ullman & Assocs, a New York-based fund reported 53,825 shares. Exxonmobil Inv Management Inc Tx accumulated 363,984 shares or 0.67% of the stock. Washington Trust Com has 92,765 shares for 0.54% of their US portfolio. Guardian Ltd Partnership last reported 106,539 shares in the company. Hm Payson & has 0.06% invested in the company for 12,722 shares. Hsbc Holdings Public Limited Company accumulated 42,917 shares or 0.01% of the stock. Wfg Advsrs Lp accumulated 16,049 shares or 0.37% of the stock.
Medtronic Public Limited Company is a medical technology and services company. The company has a market cap of $103.19 billion. The Firm develops, makes and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. It has a 29.48 P/E ratio. The Firm operates in four divisions: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.
According to Zacks Investment Research, “Medtronic is the world’s leading medical technology company, pioneering device-based therapies that restore health, extend life and alleviate pain. Primary products include those for bradycardia pacing, tachyarrhythmia management, atrial fibrillation management, among others. Medtronic operates its business in one reportable segment, that of manufacturing and selling device-based medical therapies. The company does business in more than 120 countries. The company’s product lines include cardiac rhythm management, neurological and spinal, vascular and cardiac surgery.”
Medtronic Public Limited Company (Medtronic), incorporated on June 12, 2014, is a medical technology, services and solutions company. The Firm operates in four divisions: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group and Diabetes Group. The Cardiac and Vascular Group segment includes cardiac rhythm and heart failure, coronary and structural heart, and aortic and peripheral vascular. The Company’s Minimally Invasive Therapies Group segment includes surgical solutions, and patient monitoring and recovery. The Company’s Restorative Therapies Group segment includes spine, neuromodulation, surgical technologies and neurovascular. The Company’s Diabetes Group segment includes intensive insulin management, non-intensive diabetes therapies, and diabetes services and solutions. The Company’s subsidiaries include Medtronic, Inc. and HeartWare International, Inc.
More recent Medtronic PLC (NYSE:MDT) news were published by: Reuters.com which released: “Medtronic sales disappoint, firm lowers forecast; shares fall” on November 22, 2016. Also Investorplace.com published the news titled: “Why Medtronic PLC (MDT), Dycom Industries, Inc. (DY) and Palo Alto Networks …” on November 22, 2016. Investorplace.com‘s news article titled: “Medtronic PLC (MDT) Stock Oozes Long-Term Strength” with publication date: November 02, 2016 was also an interesting one.
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By Ellis Scott