Needham Sticks to Their Buy Rating for Medtronic (MDT)


In a report issued on March 30, Michael Matson from Needham maintained a Buy rating on Medtronic (MDT), with a price target of $109.00. The company’s shares closed last Wednesday at $84.11.

According to TipRanks.com, Matson is a 2-star analyst with an average return of -0.1% and a 49.9% 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 Moderate Buy with an average price target of $119.00, implying a 36.6% upside from current levels. In a report issued on March 25, DZ BANK AG also upgraded the stock to Buy with a $90.00 price target.

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Medtronic’s market cap is currently $112.7B and has a P/E ratio of 22.90. The company has a Price to Book ratio of -15.62.

Based on the recent corporate insider activity of 71 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.

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