Needham Sticks to Its Buy Rating for Medtronic (MDT)

Needham analyst Michael Matson reiterated a Buy rating on Medtronic (MDT) today and set a price target of $134.00. The company’s shares closed last Monday at $121.30, close to its 52-week high of $122.15.

According to, Matson is a 5-star analyst with an average return of 7.7% and a 66.6% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Cardiovascular Systems, and Zimmer Biomet Holdings.

Currently, the analyst consensus on Medtronic is a Strong Buy with an average price target of $128.56, which is a 6.6% upside from current levels. In a report issued on January 23, Cowen & Co. also maintained a Buy rating on the stock with a $130.00 price target.

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Based on Medtronic’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $7.71 billion and net profit of $1.36 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 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.

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