Market Overview

UPDATE: Stifel Nicolaus Initiates Medtronic at Hold on Valuation

Related MDT
Medtronic Micra TPS Meets Global Clinical Trial's Safety and Effectiveness Endpoints
13 Stocks To Watch In The Healthcare Space

Stifel Nicolaus initiated coverage on Medtronic (NYSE: MDT) with a Hold rating.

Stifel Nicolaus commented, "We are initiating coverage of Medtronic, Inc. (MDT) with a Hold rating on the shares. Fair-to-reasonable valuation for the stock and lack of dramatic upside drivers keep us on the sidelines for the moment. With approximately 50% of Medtronic's business still in pressured "no growth" markets (Cardiac Rhythm Management and Spine) and limited room for further operating margin expansion, we suspect Medtronic's 10.8x forward P/E multiple is unlikely to expand significantly on a relative basis. With MDT shares already trading at the high end of the industry peer group on an EV/EBITDA basis, we prefer to wait for a better entry point on the shares."

Medtronic closed at $41.10 on Monday.

Latest Ratings for MDT

Nov 2015Credit SuisseMaintainsOutperform
Oct 2015Evercore ISI GroupUpgradesHoldBuy
Sep 2015JefferiesMaintainsHold

View More Analyst Ratings for MDT
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Initiation Intraday Update Analyst Ratings


Related Articles (MDT)

View Comments and Join the Discussion!

Get Benzinga's Newsletters