Medtronic, Inc. (MDT) PT Lowered to $94 at Needham & Company; 'Lowering Estimates for Hurricane Maria Manufacturing Impact'

October 10, 2017 7:59 AM EDT
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Price: $125.17 +0.82%

Rating Summary:
    26 Buy, 12 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 10 | Down: 9 | New: 61
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Needham & Company lowered its price target on Medtronic, Inc. (NYSE: MDT) to $94.00 (from $95.00) while maintaining a Buy rating, following an update on the impact of Hurricane Maria.

Analyst Mike Matson notes a cautious outlook, as the company reported damage caused by Hurricane Maria would result in $250 million negative impact to second quarter 2018 and non-GAAP earnings, with headwinds expected across all four segments.

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