Wells Fargo Sticks to Their Buy Rating for Medtronic (MDT)

Wells Fargo analyst Larry Biegelsen maintained a Buy rating on Medtronic (MDT – Research Report) yesterday and set a price target of $102.00. The company’s shares closed last Friday at $85.92.

Biegelsen covers the Healthcare sector, focusing on stocks such as Abbott Laboratories, Medtronic, and Intuitive Surgical. According to TipRanks, Biegelsen has an average return of 12.3% and a 62.78% success rate on recommended stocks.

Currently, the analyst consensus on Medtronic is a Moderate Buy with an average price target of $94.09, representing a 9.51% upside. In a report released on May 16, Barclays also assigned a Buy rating to the stock with a $104.00 price target.

The company has a one-year high of $88.74 and a one-year low of $67.71. Currently, Medtronic has an average volume of 6.02M.

Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MDT in relation to earlier this year. Most recently, in February 2024, Sean Salmon, the EVP & President Cardiovascular of MDT sold 30,695.00 shares for a total of $2,613,054.74.

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Medtronic (MDT) Company Description:

Founded in 1949, Medtronic Plc, a medical technology company, develops, manufactures, distributes, and sells device-based medical therapies and services worldwide. It operates through four segments, including Cardiac and Vascular Group; Minimally Invasive Technologies Group; Restorative Therapies Group; and Diabetes Group. The company is headquartered in Dublin, Ireland.