Medtronic Rating Increased to Buy at BTIG Research (MDT)
Medtronic (NYSE:MDT) was upgraded by research analysts at BTIG Research from a “neutral” rating to a “buy” rating in a report released on Tuesday, TheFlyOnTheWall.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse upgraded shares of Medtronic from a “neutral” rating to an “outperform” rating in a research note on Tuesday. They now have a $70.00 price target on the stock, up previously from $66.00. Separately, analysts at Morgan Stanley upgraded shares of Medtronic from an “equal weight” rating to an “overweight” rating in a research note on Tuesday. Finally, analysts at RBC Capital upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating in a research note on Tuesday. They now have a $73.00 price target on the stock, up previously from $61.00. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Medtronic has a consensus rating of “Buy” and a consensus price target of $66.67.
Medtronic (NYSE:MDT) opened at 60.03 on Tuesday. Medtronic has a 1-year low of $51.06 and a 1-year high of $64.33. The stock’s 50-day moving average is $60.35 and its 200-day moving average is $58.81. The company has a market cap of $59.970 billion and a price-to-earnings ratio of 20.10. Medtronic also was the recipient of unusually large options trading activity on Monday. Investors purchased 14,580 call options on the company. This is an increase of 453% compared to the average volume of 2,636 call options.
Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, May 20th. The company reported $1.12 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $1.10 earnings per share. Medtronic’s revenue was up 2.4% compared to the same quarter last year. Analysts expect that Medtronic will post $4.05 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, July 25th. Investors of record on Thursday, July 3rd will be given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 2.03%.
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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