Medtronic Inc (NYSE:MDT) Has Just Had Its Price Target Heightened by Professional Analysts at Jefferies & Co to $88.00


Stock Analysis:Medtronic Inc (NYSE:MDT) Stock Target Has Just Been Increased

In analysts report released by Jefferies & Co on Friday, 4 December, Medtronic Inc (NYSE:MDT) had its price target hiked to $88.00. The firm at present has a solid Buy rating on shares.

From a total of 19 analysts covering Medtronic (NYSE:MDT) stock, 19 rate it a ”Buy”, 0 a “Sell”, and 5 a ”Hold”. This means that 79% of the ratings are positive. The highest target price is $91 while the lowest target price is $79. The mean of all analyst targets is $87.32 with a 13.26% above today’s ($78.14) stock price. Medtronic was the topic of 8 analyst reports since August 10, 2015 according to the firm StockzIntelligence Inc. Credit Suisse maintained shares on November 23 with “Outperform” rating. Jefferies maintained shares with “Hold” rating and $89 target share price in a report from a September 4. Evercore upgraded MDT stock in a recent report from October 8 to “Buy” rating. Finally, UBS initiated the stock with “Buy” rating in a report issued on a September 22.

The stock increased 1.88% or $1.44 on December 4, striking $78.14. Approximately shares of stock traded hands. Medtronic PLC (NYSE:MDT) has risen 2.95% since May 4, 2015 and is uptrending. It has outperformed by 4.03% the S&P500.

Medtronic plc is a medical technology and services company. The company has a market cap of $110.46 billion. The Firm develops, makes and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. It has 32.76 P/E ratio. The Firm operates in four divisions: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.

According to Zacks Investment Research, “Medtronic is the world’s leading medical technology company, pioneering device-based therapies that restore health, extend life and alleviate pain. Primary products include those for bradycardia pacing, tachyarrhythmia management, atrial fibrillation management, among others. Medtronic operates its business in one reportable segment, that of manufacturing and selling device-based medical therapies. The company does business in more than 120 countries. The company’s product lines include cardiac rhythm management, neurological and spinal, vascular and cardiac surgery.” Get a free copy of the Zacks research report on Medtronic PLC (MDT).