Citigroup Inc. Reaffirms Buy Rating for Medtronic (MDT)
Medtronic (NYSE:MDT)‘s stock had its “buy” rating reaffirmed by analysts at Citigroup Inc. in a research report issued to clients and investors on Monday. They currently have a $71.00 target price on the stock, up from their previous target price of $69.00. Citigroup Inc.’s price target indicates a potential upside of 12.25% from the stock’s previous close.
Medtronic (NYSE:MDT) traded up 0.46% during mid-day trading on Monday, hitting $63.54. The stock had a trading volume of 2,091,121 shares. Medtronic has a one year low of $51.22 and a one year high of $65.50. The stock has a 50-day moving average of $62.9 and a 200-day moving average of $60.37. The company has a market cap of $63.271 billion and a P/E ratio of 20.94.
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 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 $4.04 earnings per share for the current fiscal year.
MDT has been the subject of a number of other recent research reports. Analysts at Cowen and Company raised their price target on shares of Medtronic from $66.00 to $76.00 in a research note on Monday. Separately, analysts at Jefferies Group upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a research note on Friday, June 20th. They now have a $75.00 price target on the stock, up previously from $60.00. Finally, analysts at Oppenheimer raised their price target on shares of Medtronic from $66.00 to $73.00 in a research note on Wednesday, June 18th. They now have an “outperform” rating on the stock. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $68.24.
Medtronic, Inc (NYSE:MDT) is engaged in medical technology – alleviating pain, restoring health, and extending life for millions of people worldwide.
Receive News & Ratings for Medtronic Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.