Market Overview

UPDATE: BMO Capital Markets Reiterates Outperform Rating, Raises PT on Medtronic on FY3Q13 Revenue

Related MDT
Medtronic Completes Acquisition of Twelve, Inc.
Medtronic Initiates Global Study of Minimally Invasive Technology to Aid Lung Cancer Diagnosis

In a report published Wednesday, BMO Capital Markets reiterated its Outperform rating on Medtronic (NYSE: MDT), and raised its price target from $50.00 to $52.00.

BMO Capital Markets noted, “Medtronic's FY3Q13 revenue was in line, EPS beat, and management reiterated guidance. In FY3Q13, Medtronic delivered revenue of $4.03B (up 2.8%; up 3.8% ex-fx), in line with the consensus estimate including ICD sales of $654 million that were a bit below the consensus' $668 million (we estimate MDT held share at 44.8% y/y) while other revenue components were either essentially in line or somewhat better than expected (e.g., pacemaker sales were $459 million versus consensus' $448 million). EPS of $0.93 beat our consensus-matching $0.91.”

Medtronic closed on Tuesday at $45.80.

Latest Ratings for MDT

Sep 2015JefferiesMaintainsHold
Sep 2015Cowen & CompanyMaintainsOutperform
Aug 2015Credit SuisseAssumesOutperform

View More Analyst Ratings for MDT
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Price Target Analyst Ratings


Related Articles (MDT)

Get Benzinga's Newsletters