Wells Fargo Downgrades Medtronic, Inc. (MDT) to Market Perform, Guidance Looks Aggressive

October 9, 2017 2:48 AM EDT
Get Alerts MDT Hot Sheet
Price: $123.78 -0.77%

Rating Summary:
    26 Buy, 12 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 12 | Down: 7 | New: 31
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Wells Fargo downgraded Medtronic, Inc. (NYSE: MDT) from Outperform to Market Perform with a price target of $83.00 (from $93.00).

Analyst Larry Biegelsen says the product cycle is hitting a lull and sees headwinds from a plethora of competitive challenges in cardiac/vascular group, softness in diabetes, as wells as spinal cord stimulation/deep brain stimulation headwinds. Furthermore the analyst suspects the company guidance for cardiac vascular group business is aggressive.

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 $79.81 Friday.

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