Merrill Lynch analyst Bob Hopkins maintained a Buy rating on Medtronic (NYSE: MDT) today and set a price target of $98. The company’s shares closed yesterday at $85.89.
According to TipRanks.com, Hopkins is a 4-star analyst with an average return of 11.0% and a 68.4% success rate. Hopkins covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Baxter International, and Intuitive Surgical.
Currently, the analyst consensus on Medtronic is Strong Buy and the average price target is $94.71, representing a 10.3% upside.
In a report issued on May 21, SunTrust Robinson also maintained a Buy rating on the stock with a $96 price target.
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Medtronic’s market cap is currently $116.3B and has a P/E ratio of 38.00. The company has a Price to Book ratio of 2.29.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MDT in relation to earlier this year. Last month, Denise Oleary, a Director at MDT bought 1,590 shares for a total of $80,041.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
