A person taking notes from their tablet
Markets

Medtronic Downgraded to “Neutral” at Goldman (MDT)

Medical device maker Medtronic, Inc. ( MDT ) on Tuesday saw its rating cut by analysts at Goldman Sachs.

The firm said it downgraded MDT from "Buy" to "Neutral" with a $37 price target, suggesting a 19% upside to the stock's Monday closing price of $31.07.

Goldman Sachs noted that analysts will likely soon cut earnings estimates for MDT, which presents a less favorable risk/reward scenario.

Medtronic shares rose 16 cents, or +0.5%, in premarket trading Tuesday.

The Bottom Line

Shares of Medtronic ( MDT ) have a 3.12% dividend yield, based on last night's closing stock price of $31.07. The stock has technical support in the $25-$29 price area. If the shares can firm up, we see overhead resistance around the $34-$36 price levels.

Medtronic, Inc. ( MDT ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by Dividend.com


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

MDT

Other Topics

Stocks

Latest Markets Videos