Medtronic (MDT) Posts Quarterly Earnings, Meets Expectations
Medtronic (NYSE:MDT) announced its earnings results on Tuesday. The company reported $1.12 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $1.12, AmericanBankingNews.com reports. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.58 billion.
Shares of Medtronic (NYSE:MDT) opened at 60.34 on Tuesday. Medtronic has a 52 week low of $50.60 and a 52 week high of $62.90. The stock’s 50-day moving average is $59.7 and its 200-day moving average is $58.35. The company has a market cap of $60.389 billion and a price-to-earnings ratio of 17.15.
MDT has been the subject of a number of recent research reports. Analysts at Credit Suisse raised their price target on shares of Medtronic from $64.00 to $66.00 in a research note on Monday. They now have a “neutral” rating on the stock. On the ratings front, 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 Deutsche Bank cut their price target on shares of Medtronic from $70.00 to $68.00 in a research note on Monday, April 14th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Medtronic currently has a consensus rating of “Buy” and a consensus target price of $62.55.
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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