Medtronic (NYSE:MDT) Upgraded to Buy at Guggenheim – Riverton Roll

Medtronic (NYSE:MDT) was upgraded by Guggenheim from a neutral rating to a buy rating in a research report issued on Thursday, January 2nd, MarketBeat.com reports. The firm presently has a $135.00 target price on the medical technology companys stock. Guggenheims price target would indicate a potential upside of 13.42% from the companys previous close. The analysts noted that the move was a valuation call.

Other research analysts have also issued reports about the company. Royal Bank of Canada increased their target price on Medtronic from $118.00 to $122.00 and gave the stock an outperform rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. increased their target price on Medtronic from $122.00 to $128.00 and gave the stock an overweight rating in a research report on Friday, December 20th. Piper Jaffray Companies increased their target price on Medtronic to $125.00 and gave the stock an overweight rating in a research report on Tuesday, November 19th. Deutsche Bank raised their price objective on Medtronic from $118.00 to $123.00 and gave the company a buy rating in a research report on Wednesday, November 20th. Finally, Oppenheimer raised their price objective on Medtronic from $118.00 to $123.00 and gave the company an outperform rating in a research report on Wednesday, November 20th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Medtronic has an average rating of Buy and an average target price of $119.90.

Shares of MDT stock traded up $0.17 during mid-day trading on Thursday, hitting $119.03. 4,906,103 shares of the companys stock were exchanged, compared to its average volume of 3,533,057. The company has a quick ratio of 2.28, a current ratio of 2.77 and a debt-to-equity ratio of 0.49. The stock has a market cap of $159.32 billion, a price-to-earnings ratio of 34.40, a PEG ratio of 2.89 and a beta of 0.60. The stock has a 50-day simple moving average of $114.10 and a two-hundred day simple moving average of $107.88. Medtronic has a fifty-two week low of $82.77 and a fifty-two week high of $119.84.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 19th. The medical technology company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.03. The business had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.66 billion. Medtronic had a return on equity of 14.52% and a net margin of 15.11%. The businesss quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the company posted $1.22 EPS. As a group, analysts anticipate that Medtronic will post 5.6 earnings per share for the current fiscal year.

In related news, EVP Robert John White sold 52,165 shares of Medtronic stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $109.33, for a total value of $5,703,199.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael J. Coyle sold 2,102 shares of Medtronic stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $109.77, for a total value of $230,736.54. Following the completion of the transaction, the executive vice president now owns 189,162 shares of the companys stock, valued at $20,764,312.74. The disclosure for this sale can be found here. Insiders have sold 106,433 shares of company stock valued at $11,704,539 over the last 90 days. Insiders own 0.28% of the companys stock.

A number of large investors have recently bought and sold shares of the stock. Dudley & Shanley Inc. acquired a new position in Medtronic in the fourth quarter worth about $17,735,000. Manchester Financial Inc. acquired a new position in Medtronic in the fourth quarter valued at approximately $28,000. Vigilant Capital Management LLC boosted its stake in Medtronic by 7.1% in the fourth quarter. Vigilant Capital Management LLC now owns 2,491 shares of the medical technology companys stock valued at $283,000 after acquiring an additional 165 shares during the period. Nisa Investment Advisors LLC boosted its stake in Medtronic by 11.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 551,110 shares of the medical technology companys stock valued at $62,523,000 after acquiring an additional 57,224 shares during the period. Finally, Huntington National Bank boosted its stake in Medtronic by 8.0% in the fourth quarter. Huntington National Bank now owns 72,428 shares of the medical technology companys stock valued at $8,210,000 after acquiring an additional 5,360 shares during the period. Institutional investors and hedge funds own 80.65% of the companys stock.

Medtronic Company Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

Medtronic (NYSE:MDT) Upgraded to Buy at Guggenheim – Riverton Roll

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