Morgan Stanley analyst David Lewis maintained a Hold rating on Medtronic (MDT) today and set a price target of $112.00. The company’s shares closed last Monday at $90.85.
According to TipRanks.com, Lewis is a 4-star analyst with an average return of 3.0% and a 53.9% success rate. Lewis covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Zimmer Biomet Holdings, and Baxter International.
Currently, the analyst consensus on Medtronic is a Strong Buy with an average price target of $123.19.
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Based on Medtronic’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $7.72 billion and net profit of $1.92 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 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.
