Medtronic (MDT) Results Match Preannouncement Commentary, UBS Reiterates Buy Rating
- Wall Street slips from all-time peaks, Tesla drops after fatal crash
- Bitcoin (BTC) Price Fell 20% Off the Highs Over the Weekend as Markets Got 'Too Excited' About Coinbase (COIN), Says Mike Novogratz
- GameStop (GME) CEO Gets the Axe as Ryan Cohen Continues to Make His Mark, Analyst Says Co. Will Likely Look to Tech Sector for New Hires
- UK to Intervene in Nvidia's (NVDA) ARM Deal, Analyst Says Although Intervention 'Carries Significant Weight,' NVDA is Still a Buy
- Dollar slumps to 6-week low, Bitcoin steadies after weekend drop
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
UBS analyst Matthew Taylor reiterated a Buy rating and $130.00 price target on Medtronic (NYSE: MDT) after the company reported FY3Q21 results (Jan), with sales of $7.78B -1% organic (cons.$7.77B) and EPS of $1.29 (-10%) vs. cons. $1.15. On January 11, management noted that results could be roughly flat instead of flat to slightly up due to impact from CV-19 surges in Dec. and Jan and the reported -1% organic decline matched these statements. Despite this, MDT noted q/q improvements in revenue and earnings and cited continued share gains in an increasing number of businesses.
The analyst stated "We reiterate our Buy rating on shares of MDT and continued to be impressed by the company's progress in a number of segments, showing strong relative performance and execution during the pandemic; we are excited about MDT's pipeline as well."
Shares of closed at $118.00 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Starbucks (SBUX) PT Raised to $135 at Oppenheimer Into Q1 Results (Earlier)
- Sunac Services (1516:HK) (SSHLF) PT Raised to HK$31.30 at CLSA
- Dalmia Bharat Ltd (DALBHARA:IN) PT Raised to INR2,100 at Citi
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View
Related EntitiesUBS, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!