Credit Suisse Reaffirms Their Buy Rating on Medtronic (MDT)
In a report issued on February 12, Matt Miksic from Credit Suisse maintained a Buy rating on Medtronic (MDT), with a price target of $126.00. The company’s shares closed last Monday at $117.33, close to its 52-week high of $122.15.
According to TipRanks.com, Miksic is a 5-star analyst with an average return of 15.2% and a 79.9% success rate. Miksic covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Edwards Lifesciences, and Integra Lifesciences.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Medtronic with a $127.75 average price target, implying a 9.3% upside from current levels. In a report issued on January 31, Oppenheimer also maintained a Buy rating on the stock with a $131.00 price target.
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Based on Medtronic’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $7.71 billion and net profit of $1.36 billion. In comparison, last year the company earned revenue of $7.55 billion and had a net profit of $1.27 billion.
Based on the recent corporate insider activity of 73 insiders, corporate insider sentiment is neutral on the stock. Most recently, in December 2019, Richard Kuntz, the SVP & Chief Medical & Science of MDT sold 50,856 shares for a total of $5,776,101.
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