Needham Sticks to Their Buy Rating for Medtronic (MDT)

In a report released today, Michael Matson from Needham maintained a Buy rating on Medtronic (MDTResearch Report), with a price target of $146.00. The company’s shares closed last Friday at $127.72, close to its 52-week high of $132.39.

According to TipRanks.com, Matson is a 5-star analyst with an average return of 17.8% and a 67.9% 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 Strong Buy analyst consensus rating for Medtronic with a $141.82 average price target.

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Medtronic’s market cap is currently $172B and has a P/E ratio of 48.30. The company has a Price to Book ratio of -20.85.

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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.