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Needham Sticks to Their Buy Rating for Medtronic (MDT)

In a report released today, Michael Matson from Needham reiterated a Buy rating on Medtronic (MDTResearch Report), with a price target of $124.00. The company’s shares closed last Friday at $110.18.

According to TipRanks.com, Matson is a 4-star analyst with an average return of 7.8% and a 54.8% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Cardiovascular Systems, and Zimmer Biomet Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Medtronic with a $125.29 average price target.

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Medtronic’s market cap is currently $147.8B and has a P/E ratio of 30.37.

Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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.

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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