UBS Group Downgrades Medtronic (NYSE:MDT) to Sell Rating

Medtronic Stock

Medtronic (MDT:NYE) has been downgraded by UBS Group from a “Buy” rating to a “Sell” rating, according to a report. The medical technology company’s new price objective has been set at $79.00, down from its previous price objective of $127.00. This represents a potential downside of 0.64% from the previous close of Medtronic stock.

 

Medtronic Stock Price Analysis:

Other analysts have also recently issued reports about the company, with a consensus rating of “Hold” and an average price target of $89.14. Medtronic stock currently has a market capitalization of $105.78 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 2.40, and a beta of 0.71.

MDT Ratings by Stock Target Advisor

Medtronic Stock-Insider Transactions:

In related news, Plc Medtronic acquired 6,835 shares of the firm’s stock in a transaction on January 30th. Medtronic stock was purchased at an average cost of $9.28 per share, with a total value of $63,428.80. Following the acquisition, the insider now owns 4,999,423 shares of the company’s stock, valued at approximately $46,394,645.44. Corporate insiders own 0.29% of the company’s stock.

 

Hedge Funds & Institutional Holdings:

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the MDT stock.

Vanguard Group Inc. now owns 123,861,994 shares of the medical technology company’s stock worth $10,001,857,000 after purchasing an additional 1,056,995 shares in the last quarter.

BlackRock Inc. now owns 115,998,561 shares of the medical technology company’s stock valued at $9,366,883,000 after acquiring an additional 5,620,477 shares in the last quarter.

State Street Corp now owns 58,989,713 shares of the medical technology company’s stock valued at $4,802,998,000 after acquiring an additional 928,929 shares in the last quarter.

Geode Capital Management LLC now owns 27,222,300 shares of the medical technology company’s stock valued at $2,112,247,000 after acquiring an additional 423,715 shares in the last quarter.

Finally, Bank of New York Mellon Corp now owns 26,230,610 shares of the medical technology company’s stock valued at $2,090,652,000 after acquiring an additional 6,519,498 shares in the last quarter.

 

Company Profile:

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. The company was founded in 1949 and is headquartered in Dublin, Ireland.

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