Stock Report on Medtronic PLC (NYSE:MDT)

[Globe Newswire] Medtronic PLC (NYSE:MDT)(TREND ANALYSIS) announced its acquisition of Diabeter, an innovative, independent Netherlands-based diabetes clinic and research center dedicated to providing comprehensive and individualized care for children and young adults with diabetes. Together, Medtronic and Diabeter will further develop and expand Diabeter`s model of care so more people with diabetes can enjoy greater freedom and better health. This acquisition combines the strengths of Medtronic and Diabeter to create a strong local and international platform for improving outcomes for people with diabetes. Terms of the acquisition were not disclosed.

“The Diabeter acquisition is a milestone for Medtronic and for the Diabetes Group,” said Hooman Hakami, executive vice president and president of the Diabetes Group at Medtronic.  “This acquisition marks Medtronic`s first entry into a diabetes integrated care model approach and signifies that Medtronic Diabetes is more than pumps and sensors – we are a holistic diabetes management company focused on making a real difference in outcomes and cost.”

Stock Performance: Click here for a free comprehensive Trend Analysis Report

The company is currently valued at $111.27 billion and closed the last trading session at $77.93. The stock has 50-day moving average of $76.8 and a 200-day moving average of $69.67.

Medtronic PLC (NYSE:MDT) is currently trading 1.79% below its 52-week-high, 39.8% above its 52-week-low and in the range of $75.8-$79.5 over the past month. The 1-year range for the stock is $55.85-$79.5. Medtronic PLC (MDT) has a price to book ratio of 3.81 versus S&P 500 average of 2.88. The company’s share price has outperformed the S&P 500 year to date by over 6.41%.

Medtronic PLC (MDT) current short interest stands at 12,813,996 shares. It has decreased by -17% from the same period of last month. Around 0.9% of the company’s shares, which are float, are short sold. With a 30-days average daily volume of 5,640,750 shares, the number of days required to cover the short positions stand at 2.2 days.

Stock Analyst Perspectives: Click here for a free Trend Analysis Report

There are currently twenty-six analysts that we track that cover MDT. Of those twenty-six, eighteen have a buy rating, eight have a hold rating. On a consensus basis this yields to a Buy. The overall consensus target price stands at $86.44 which represents an upside of 10.7% from the last closing price of $78.08.

Recently, several research firms updated their ratings on the stock. Indeed, in the last five days, an average price target of $83.5 has been given to the stock, which represents an upside of 6.94% from the last closing price.

Indeed, BMO Capital Markets reiterated their outperform stance on April 13th, with a target price of $87, which represents an upside of 11.42% from the last closing price. Another research firm, Needham & Co, reiterated their buy stance on the same day, with a target price of $87, which translates into an upside of 11.42%. Finally, Cowen and Company reiterated their outperform stance on April 13th, with a target price of $88.

Company Profile

Medtronic, PLC develops therapeutic and diagnostic medical products. The Company’s principal products include those for bradycardia pacing, tachyarrhythmia management, atrial fibrillation management, heart failure management, heart valve replacement, malignant and non-malignant pain, and movement disorders. Medtronic’s products are sold worldwide.

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