After Oppenheimer and Needham gave Medtronic (NYSE: MDT) a Buy rating last month, the company received another Buy, this time from BTIG. Analyst Ryan Zimmerman maintained a Buy rating on Medtronic today and set a price target of $102.00. The company’s shares closed last Thursday at $95.41.
According to TipRanks.com, Zimmerman is a 5-star analyst with an average return of 12.4% and a 56.8% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Staar Surgical Company, and Zimmer Biomet Holdings.
Medtronic has an analyst consensus of Moderate Buy, with a price target consensus of $111.69, which is a 17.4% 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.
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.
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.