Analyst Josh Jennings of TD Cowen maintained a Buy rating on Medtronic, retaining the price target of $106.00.
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Josh Jennings has given his Buy rating due to a combination of factors including the promising data from Medtronic’s Symplicity Spyral renal denervation system. The recent findings presented at the TCT meeting demonstrated significant and sustained reductions in blood pressure for patients using the system over a three-year period, compared to those who underwent a sham procedure.
These results not only confirm the safety and efficacy of the Symplicity Spyral system but also highlight its potential as a durable treatment option. The substantial decrease in both ambulatory and office-based systolic blood pressure underscores the system’s effectiveness, reinforcing its potential for a successful US launch and positioning it as a significant growth opportunity for Medtronic.
Jennings covers the Healthcare sector, focusing on stocks such as TransMedics Group, Medtronic, and Boston Scientific. According to TipRanks, Jennings has an average return of 1.1% and a 47.39% success rate on recommended stocks.
In another report released on October 21, Citi also maintained a Buy rating on the stock with a $112.00 price target.