Needham analyst Michael Matson assigned a Buy rating to Medtronic (MDT) today and set a price target of $124.00. The company’s shares closed last Monday at $104.80.
According to TipRanks.com, Matson is a 5-star analyst with an average return of 7.2% and a 56.1% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Cardiovascular Systems, and Zimmer Biomet Holdings.
Medtronic has an analyst consensus of Moderate Buy, with a price target consensus of $116.33, representing a 10.5% upside. In a report issued on September 8, UBS also maintained a Buy rating on the stock with a $123.00 price target.
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Medtronic’s market cap is currently $144.6B and has a P/E ratio of 33.00. The company has a Price to Book ratio of -15.92.
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Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiac and Vascular Group; Minimally Invasive Technologies Group; Restorative Therapies Group; and Diabetes Group. The Cardiac and Vascular Group segment consist Cardiac Rhythm and Heart Failure, Coronary and Structural Heart, and Aortic and Peripheral Vascular divisions. The Minimally Invasive Technologies Group segment comprises Surgical Innovations and Respiratory, Gastrointestinal, and Renal divisions. The Restorative Therapies Group contains Spine, Brain, Specialty Therapies, and Pain Therapies divisions. The Diabetes Group segment focuses in the development, manufacturing, and marketing of products and services for the management of Type I and Type II diabetes. The company was founded in 1949 and is headquartered in Dublin, Ireland.
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