Medtronic (MDT) Received its Third Buy in a Row

After Oppenheimer and Wells Fargo 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 today and set a price target of $113.00. The company’s shares closed last Thursday at $95.42.

According to, Matson is a 5-star analyst with an average return of 6.7% and a 58.0% 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 Moderate Buy analyst consensus rating for Medtronic with a $110.80 average price target, which is a 16.5% upside from current levels. In a report released today, Oppenheimer also assigned a Buy rating to the stock with a $131.00 price target.

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Medtronic’s market cap is currently $131.4B and has a P/E ratio of 24.60. The company has a Price to Book ratio of -16.80.

Based on the recent corporate insider activity of 73 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.

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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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