UPDATE: Wolfe Research Starts Medtronic, Inc. (MDT) at Underperform

July 5, 2022 4:38 PM EDT
Get Alerts MDT Hot Sheet
Price: $82.66 -1.08%

Rating Summary:
    17 Buy, 19 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 6 | Down: 13 | New: 58
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(Updated - July 6, 2022 3:51 AM EDT)

Wolfe Research analyst Mike Polark initiates coverage on Medtronic, Inc. (NYSE: MDT) with a Underperform rating, PT $85.00.

The analyst comments "EPS CAGR back 10 years is ~5%. Dividend has yielded about 2%/ year over same period. In a relative-to-rest-of-coverage rating system, difficult to digest that data and conclude other than Underperform. Low multiple, no question, and this tape is drawing people to “cheap”. Dividend yield now 3%. That profile is tempting. However, our gut says “potential value trap”. For now."

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 $91.38 yesterday.

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