Wells Fargo analyst Larry Biegelsen maintained a Buy rating on Medtronic (MDT – Research Report) today and set a price target of $102.00. The company’s shares closed yesterday at $83.36.
According to TipRanks, Biegelsen is a 5-star analyst with an average return of 12.3% and a 61.47% success rate. Biegelsen covers the Healthcare sector, focusing on stocks such as Bausch + Lomb Corporation, Abbott Labs, and Boston Scientific.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Medtronic with a $93.44 average price target, representing a 12.09% upside. In a report released on February 21, Stifel Nicolaus also maintained a Buy rating on the stock with a $95.00 price target.
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Based on Medtronic’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $8.09 billion and a net profit of $1.32 billion. In comparison, last year the company earned a revenue of $7.73 billion and had a net profit of $1.22 billion
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MDT in relation to earlier this year. Earlier this month, Sean Salmon, the EVP & President Cardiovascular of MDT sold 30,695.00 shares for a total of $2,613,054.74.
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Medtronic (MDT) Company Description:
Founded in 1949, Medtronic Plc, a medical technology company, develops, manufactures, distributes, and sells device-based medical therapies and services worldwide. It operates through four segments, including Cardiac and Vascular Group; Minimally Invasive Technologies Group; Restorative Therapies Group; and Diabetes Group. The company is headquartered in Dublin, Ireland.
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