Medtronic (MDT) Received its Third Buy in a Row


After Piper Sandler and Cowen & Co. gave Medtronic (NYSE: MDT) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Michael Matson reiterated a Buy rating on Medtronic yesterday and set a price target of $134.00. The company’s shares closed last Monday at $112.66.

According to TipRanks.com, Matson is a 5-star analyst with an average return of 8.0% and a 64.8% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Cardiovascular Systems, and Zimmer Biomet Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Medtronic with a $127.75 average price target, an 11.8% upside from current levels. In a report issued on February 4, Credit Suisse also reiterated a Buy rating on the stock with a $126.00 price target.

See today’s analyst top recommended stocks >>

Medtronic’s market cap is currently $151B and has a P/E ratio of 32.58. The company has a Price to Book ratio of 2.99.

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.

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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts