Citigroup Inc. Reiterates Buy Rating for Medtronic (MDT)
Medtronic (NYSE:MDT)‘s stock had its “buy” rating reiterated by investment analysts at Citigroup Inc. in a note issued to investors on Wednesday. They currently have a $69.00 target price on the stock, down from their previous target price of $71.00. Citigroup Inc.’s target price would suggest a potential upside of 16.14% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, 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 analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $62.94.
Shares of Medtronic (NYSE:MDT) traded up 1.08% during mid-day trading on Wednesday, hitting $60.05. The stock had a trading volume of 967,103 shares. Medtronic has a 52-week low of $50.60 and a 52-week high of $62.90. The stock has a 50-day moving average of $59.71 and a 200-day moving average of $58.37. The company has a market cap of $60.099 billion and a price-to-earnings ratio of 16.87.
Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, May 20th. The company reported $1.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.12. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.58 billion. During the same quarter in the previous year, the company posted $1.10 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts expect that Medtronic will post $4.08 EPS 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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