Medtronic Receives Average Recommendation of “Buy” from Analysts (NYSE:MDT)
Shares of Medtronic (NYSE:MDT) have been given a consensus recommendation of “Buy” by the nineteen brokerages that are covering the stock, Stock Ratings Network reports. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $64.19.
A number of analysts have recently weighed in on MDT shares. Analysts at BMO Capital Markets cut their price target on shares of Medtronic from $68.00 to $67.00 in a research note on Thursday, May 22nd. Separately, analysts at Deutsche Bank raised their price target on shares of Medtronic from $68.00 to $70.00 in a research note on Wednesday, May 21st. They now have a “buy” rating on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Medtronic in a research note on Wednesday, May 21st. They now have a $69.00 price target on the stock, down previously from $71.00.
Medtronic (NYSE:MDT) traded down 1.68% during mid-day trading on Thursday, hitting $62.161. The stock had a trading volume of 2,114,154 shares. Medtronic has a 1-year low of $50.60 and a 1-year high of $64.33. The stock’s 50-day moving average is $59.71 and its 200-day moving average is $58.57. The company has a market cap of $62.099 billion and a price-to-earnings ratio of 20.93. Medtronic also was the target of some unusual options trading on Wednesday. Traders bought 5,280 put options on the stock. This is an increase of 346% compared to the average daily volume of 1,183 put options.
Medtronic (NYSE:MDT) last released its earnings data 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.
Medtronic, Inc (NYSE:MDT) is engaged in medical technology – alleviating pain, restoring health, and extending life for millions of people worldwide.