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Medtronic (MDT) Gets a Hold Rating from Leerink Partners

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Leerink Partners analyst Danielle Antalffy maintained a Hold rating on Medtronic (MDTResearch Report) today and set a price target of $115.00. The company’s shares closed last Thursday at $106.11.

According to TipRanks.com, Antalffy is a 4-star analyst with an average return of 7.9% and a 48.5% success rate. Antalffy covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Inspire Medical Systems, and Treace Medical Concepts.

Currently, the analyst consensus on Medtronic is a Moderate Buy with an average price target of $128.59, representing a 20.6% upside. In a report issued on January 7, Morgan Stanley also downgraded the stock to Hold with a $120.00 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 $7.85 billion and net profit of $1.31 billion. In comparison, last year the company earned revenue of $7.65 billion and had a net profit of $489 million.

Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is neutral on the stock.

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Founded in 1949, Medtronic Plc, a medical technology company, develops, manufactures, distributes, and sells device-based medical therapies and services worldwide. It operates through four segments, including Cardiac and Vascular Group; Minimally Invasive Technologies Group; Restorative Therapies Group; and Diabetes Group. The company is headquartered in Dublin, Ireland.

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