Medtronic Price Target Raised to $64.00 at Credit Suisse (MDT)
Analysts at Credit Suisse boosted their price objective on shares of Medtronic (NYSE:MDT) from $62.00 to $64.00 in a research report issued to clients and investors on Monday, Stock Ratings Network.com reports. Credit Suisse’s price target indicates a potential upside of 9.70% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. upgraded shares of Medtronic to an “overweight” rating in a research note to investors on Monday. They now have a $69.00 price target on the stock, up previously from $63.00. Separately, analysts at Goldman Sachs Group Inc. upgraded shares of Medtronic from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday, December 17th. They now have a $66.00 price target on the stock, up previously from $65.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Medtronic in a research note to investors on Thursday, November 21st. They now have a $60.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Medtronic has an average rating of “Buy” and an average price target of $60.94.
Medtronic (NYSE:MDT) opened at 58.34 on Monday. Medtronic has a 1-year low of $42.39 and a 1-year high of $58.85. The stock has a 50-day moving average of $57.29 and a 200-day moving average of $55.07. The company has a market cap of $58.244 billion and a price-to-earnings ratio of 15.30.
Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 19th. The company reported $0.91 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.90 by $0.01. The company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter last year, the company posted $0.88 earnings per share. Medtronic’s revenue was up 2.4% compared to the same quarter last year. Analysts expect that Medtronic will post $3.83 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, January 24th. Investors of record on Friday, January 3rd will be given a dividend of 0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Tuesday, December 31st.
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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