Medtronic Rating Reiterated by Jefferies Group (MDT)
Medtronic (NYSE:MDT)‘s stock had its “hold” rating restated by equities research analysts at Jefferies Group in a research note issued to investors on Wednesday, AnalystRatingsNetwork reports. They currently have a $56.00 price target on the stock, up from their previous price target of $53.00. Jefferies Group’s price target would indicate a potential upside of 6.00% from the company’s current price.
The analysts wrote, “F1Q results were below expectations, driven by weakness in ICDs, Core Spine, Neuro, and Diabetes, partially offset by more resilient than expected InFUSE sales and CoreValve bulk selling in Germany. Guidance is unchanged, though at this point the lower end appears more likely. With end markets promising to keep growth in check for some time and at current valuation, we remain at Hold.”
MDT has been the subject of a number of other recent research reports. Analysts at Credit Suisse raised their price target on shares of Medtronic from $56.00 to $60.00 in a research note to investors on Monday. They now have a “neutral” rating on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Medtronic from $52.00 to $59.00 in a research note to investors on Wednesday, August 14th. They now have a “neutral” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of Medtronic from $52.00 to $56.00 in a research note to investors on Tuesday, August 13th. They now have a “sector perform” rating on the stock.
Fifteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $55.84.
Shares of Medtronic (NYSE:MDT) traded up 0.08% during mid-day trading on Wednesday, hitting $52.87. The stock had a trading volume of 2,428,726 shares. Medtronic has a 1-year low of $40.19 and a 1-year high of $55.98. The stock has a 50-day moving average of $54.3 and a 200-day moving average of $49.72. The company has a market cap of $53.262 billion and a price-to-earnings ratio of 15.68.
Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $0.88 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.88. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.11 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. On average, analysts predict that Medtronic will post $3.84 earnings per share for the current fiscal year.
Medtronic, Inc (NYSE:MDT) is engaged in medical technology – alleviating pain, restoring health, and extending life for millions of people worldwide.
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