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Medtronic Stock Rises on Analyst Price Target Increases
Medtronic Stock Rises on Analyst Price Target Increases
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BTCCSquare news:
Medtronic shares climbed nearly 4% Wednesday, outperforming the S&P 500's slight decline, after multiple analysts raised price targets following the company's Q1 earnings report. The medical device Maker posted 8% revenue growth to $8.6 billion and a 2% increase in adjusted net income to $1.6 billion, narrowly beating estimates.
Seven analysts, including those from J.P. Morgan and other major banks, incrementally increased their valuations. While the adjustments were modest, the bullish sentiment stood out. Leerink Partners' Mike Kratky maintained his positive outlook despite only raising his target by $1 to $111 per share.
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