Medtronic Receives Average Rating of “Buy” from Analysts (NYSE:MDT)
Shares of Medtronic (NYSE:MDT) have been given a consensus recommendation of “Buy” by the twenty-three brokerages that are presently covering the stock, AnalystRatingsNetwork.com reports. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $62.53.
Shares of Medtronic (NYSE:MDT) opened at 58.94 on Tuesday. Medtronic has a 1-year low of $46.17 and a 1-year high of $62.90. The stock has a 50-day moving average of $59.82 and a 200-day moving average of $57.82. The company has a market cap of $58.988 billion and a P/E ratio of 16.74.
Medtronic (NYSE:MDT) last released its earnings data on Tuesday, February 18th. The company reported $0.91 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.91. The company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.15 billion. On average, analysts predict that Medtronic will post $3.82 earnings per share for the current fiscal year.
MDT has been the subject of a number of recent research reports. Analysts at Deutsche Bank cut their price target on shares of Medtronic from $70.00 to $68.00 in a research note on Monday, April 14th. Separately, analysts at Bank of America reiterated a “buy” rating on shares of Medtronic in a research note on Monday, April 14th. They now have a $66.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. downgraded shares of Medtronic from an “overweight” rating to a “neutral” rating in a research note on Monday, April 14th. They now have a $64.00 price target on the stock, down previously from $69.00.
In other Medtronic news, VP Catherine Szyman sold 29,420 shares of Medtronic stock on the open market in a transaction dated Thursday, April 17th. The shares were sold at an average price of $58.79, for a total value of $1,729,601.80. Following the completion of the sale, the vice president now directly owns 21,602 shares of the company’s stock, valued at approximately $1,269,982. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
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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