Cowen and Company Increases Medtronic Price Target to $76.00 (MDT)
Stock analysts at Cowen and Company boosted their price target on shares of Medtronic (NYSE:MDT) from $66.00 to $76.00 in a report issued on Monday. Cowen and Company’s target price points to a potential upside of 20.16% from the stock’s previous close.
Medtronic (NYSE:MDT) opened at 63.25 on Monday. Medtronic has a one year low of $51.22 and a one year high of $65.50. The stock’s 50-day moving average is $62.9 and its 200-day moving average is $60.37. The company has a market cap of $62.982 billion and a price-to-earnings ratio of 21.10.
Medtronic (NYSE:MDT) last announced its 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 $4.04 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. 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. Separately, 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. Finally, analysts at Barclays upgraded shares of Medtronic from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, June 18th. They now have a $73.00 price target on the stock, up previously from $67.00. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $68.12.
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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