Medtronic Sees Unusually High Options Volume (MDT)
Medtronic (NYSE:MDT) saw some unusual options trading on Wednesday. Investors purchased 5,280 put options on the company, AnalystRatingsNetwork.com reports. This represents an increase of 346% compared to the average daily volume of 1,183 put options.
A number of analysts have recently weighed in on MDT shares. Analysts at BMO Capital Markets cut their price target on shares of Medtronic from $68.00 to $67.00 in a research note on Thursday, May 22nd. Separately, analysts at Deutsche Bank raised their price target on shares of Medtronic from $68.00 to $70.00 in a research note on Wednesday, May 21st. They now have a “buy” rating on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Medtronic in a research note on Wednesday, May 21st. They now have a $69.00 price target on the stock, down previously from $71.00. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $64.19.
Medtronic (NYSE:MDT) traded up 3.62% during mid-day trading on Wednesday, hitting $63.22. The stock had a trading volume of 12,427,165 shares. Medtronic has a 1-year low of $50.60 and a 1-year high of $62.90. The stock has a 50-day moving average of $59.55 and a 200-day moving average of $58.5. The company has a market cap of $63.157 billion and a P/E ratio of 20.20.
Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, May 20th. The company reported $1.12 EPS for the quarter, meeting the Thomson Reuters 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 prior year, the company posted $1.10 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. On average, analysts predict that Medtronic will post $4.05 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.