Medtronic Given New $66.00 Price Target at Credit Suisse (MDT)
Analysts at Credit Suisse upped their price objective on shares of Medtronic (NYSE:MDT) from $64.00 to $66.00 in a research report issued to clients and investors on Monday. The firm currently has a “neutral” rating on the stock. Credit Suisse’s price target would indicate a potential upside of 9.29% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Medtronic in a research note on Tuesday, April 22nd. They now have a $58.94 price target on the stock. Finally, 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. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $62.55.
Medtronic (NYSE:MDT) opened at 60.39 on Monday. Medtronic has a one year low of $49.59 and a one year high of $62.90. The stock has a 50-day moving average of $59.7 and a 200-day moving average of $58.33. The company has a market cap of $60.439 billion and a price-to-earnings ratio of 17.02.
Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 18th. The company reported $0.91 EPS for the quarter, meeting the Thomson Reuters 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.
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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