Northland Securities Sticks to Their Hold Rating for Medtronic (MDT)

Northland Securities analyst Suraj Kalia maintained a Hold rating on Medtronic (NYSE: MDT) today and set a price target of $84. The company’s shares opened today at $95.03.

Kalia noted:

“We analyze data on MitraClip + GDMT in HFpEF / HFrEF + FMR, & impact on existing clinical trials in both transcatheter mitral repair / replacement programs. There are a ton of unknowns, however, it is likely that: 1) Edwards PASCAL trial will need to be redesigned with MitraClip as the control (even though the trial is in DMR; Medtronic’ APOLLO trial, especially in HFrEF “might” not need MitraClip as the comparator). 2) COAPT results are not applicable in real-world setting. Key Points We confess, we don’t have access to raw data in COAPT, hence it is impossible to make definitive arguments.”

According to, Kalia is a 5-star analyst with an average return of 13.4% and a 61.5% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Obalon Therapeutics Inc, Apollo Endosurgery Inc, and Edwards Lifesciences.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Medtronic with a $105.58 average price target.

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The company has a one-year high of $100.15 and a one-year low of $76.41. Currently, Medtronic has an average volume of 4.59M.

Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is neutral on the stock. Most recently, in August 2018, Richard Kuntz, the SVP & Chief Medical & Science of MDT sold 47,176 shares for a total of $4,522,763.

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