A Look at Analysts’ Recent Recommendations for Medtronic Stock


Mar. 12 2018, Updated 10:32 a.m. ET

Analyst recommendations

Medtronic (MDT) has recently launched a number of products and entered into some strategic partnerships, advancing the company’s aim to provide value-based healthcare. The company also released robust 3Q18 earnings results on February 20, 2018, despite some macroeconomic challenges and supply headwinds. In this part of the series, we’ll look at Wall Street analysts’ 12-month recommendations for MDT stock.

As of March 9, 2018, and according to a Reuters survey of 24 analysts, MDT stock has a “buy” or “strong buy” rating from 58% (or 14) analysts. Ten (or 41%) of them recommended a “hold.” There were no “sell” recommendations.

Article continues below advertisement

Target price

As of March 9, 2018, Wall Street analysts have a consensus 12-month target price of $91.45 for MDT stock. That implies a 12-month investment return potential of 11.2%. On March 8, 2018, MDT stock ended trading at $81.13.

Its peers Abbott Laboratories (ABT), Boston Scientific (BSX), and Zimmer Biomet Holdings (ZBH) have average 12-month target prices of $68.22, $31.50, and $139.95, respectively. These targets represent potential 12-month returns of 10.3%, 13.1%, and 16.4%, respectively.

Rating recommendation revisions and updates

On February 21, 2018, Leerink Partners increased its target price for MDT stock from $88 to $90 following strong 3Q18 earnings results on February 20, 2018. Triggered by the positive results, Evercore ISI also raised its target price on Medtronic stock from $88 to $90. Citigroup reaffirmed its “buy” rating for MDT stock and its target price of $93.


More From Market Realist

  • CONNECT with Market Realist
  • Link to Facebook
  • Link to Twitter
  • Link to Instagram
  • Link to Email Subscribe
Market Realist Logo
Do Not Sell My Personal Information

© Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.