Medtronic Target of Unusually High Options Trading (MDT)
Medtronic (NYSE:MDT) was the recipient of unusually large options trading on Monday. Stock investors purchased 14,580 call options on the stock, Analyst Ratings Network reports. This represents an increase of 453% compared to the typical volume of 2,636 call options.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. upgraded shares of Medtronic from a “neutral” rating to an “overweight” rating in a research note on Monday. They now have a $78.00 price target on the stock, up previously from $64.00. Separately, analysts at William Blair upgraded shares of Medtronic from a “market perform” rating to an “outperform” rating in a research note on Monday. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Medtronic in a research note on Thursday. They now have a $64.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $65.60.
Shares of Medtronic (NYSE:MDT) traded down 1.10% during mid-day trading on Monday, hitting $60.03. The stock had a trading volume of 65,438,088 shares. Medtronic has a 1-year low of $51.06 and a 1-year high of $64.33. The stock has a 50-day moving average of $60.24 and a 200-day moving average of $58.76. The company has a market cap of $59.970 billion and a P/E ratio of 20.10.
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.
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