Jefferies Boosts Numbers On Medtronic (MDT) After Q3, Keeps Hold Rating
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Price: $91.27 +0.76%
Rating Summary:
25 Buy, 18 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
25 Buy, 18 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Jefferies raised estimates and its price target on Medtronic, Inc. (NYSE: MDT) from $37 to $39, but kept its Hold rating following ho-hum Q3 results.
"The story remained the same for Medtronic in F3Q: weakness in ICDs and Spine continuing to weigh on the company’s growth profile and overshadowing a promising pipeline. While the shares currently trade at trough valuation and FCF remains robust, we see little basis for multiple expansion until and unless the growth profile improves."
The firm raised Q4 EPS from $0.97 to $0.98, FY12 was maintained at $3.45 and FY13 was raised from $3.66 to $3.69.
For an analyst ratings summary and ratings history on Medtronic, Inc. click here. For more ratings news on Medtronic, Inc. click here.
Shares of Medtronic, Inc. closed at $38.99 yesterday.
"The story remained the same for Medtronic in F3Q: weakness in ICDs and Spine continuing to weigh on the company’s growth profile and overshadowing a promising pipeline. While the shares currently trade at trough valuation and FCF remains robust, we see little basis for multiple expansion until and unless the growth profile improves."
The firm raised Q4 EPS from $0.97 to $0.98, FY12 was maintained at $3.45 and FY13 was raised from $3.66 to $3.69.
For an analyst ratings summary and ratings history on Medtronic, Inc. click here. For more ratings news on Medtronic, Inc. click here.
Shares of Medtronic, Inc. closed at $38.99 yesterday.
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