In a report released today, Lee Hambright from Bernstein maintained a Buy rating on Medtronic (MDT – Research Report), with a price target of $97.00. The company’s shares closed yesterday at $85.08.
Hambright covers the Healthcare sector, focusing on stocks such as Johnson & Johnson, Medtronic, and Zimmer Biomet Holdings. According to TipRanks, Hambright has an average return of 14.3% and an 80.65% success rate on recommended stocks.
Medtronic has an analyst consensus of Moderate Buy, with a price target consensus of $93.44, a 9.83% upside from current levels. In a report released on March 12, Barclays also maintained a Buy rating on the stock with a $104.00 price target.
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The company has a one-year high of $89.78 and a one-year low of $68.27. Currently, Medtronic has an average volume of 6.09M.
Based on the recent corporate insider activity of 62 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. Last 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.
Read More on MDT:
- Medtronic announces cash dividend for fourth quarter of fiscal year 2024
- Medtronic authorizes an incremental $5B for share repurchases
- Medtronic recalls over 45,000 catheter tubing for catheter disconnection
- Unusually active option classes on open March 7th
- Medtronic files ITC action against Axonics
