Medtronic Stock Slammed With UBS Downgrade

Analysts are leaning bearish on the stock in general

Deputy Editor
Mar 29, 2023 at 11:11 AM
facebook X logo linkedin


UBS hit Medtronic PLC (NYSE:MDT) with a downgrade to "sell" from "buy," with a steep price-target cut to $79 from $127. The firm stated that "despite the company's ongoing transformation, the firm lacks conviction that it can return to sustainable, mid-single digit top-line growth" and added that is has been losing share in some of its highest growth businesses such as diabetes. 

At last glance, MDT was down 0.7% at $78.79. Long-term pressure at the descending 200-day moving average helped push the shares lower throughout the month of February. Year-to-date, the equity is up 1.7%. 

Of the 30 analysts in coverage, 18 carry a "hold" or worse rating, with 12 a "buy" or better. The 12-month consensus price target of $89 is a 12.6% premium to current levels. 

 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI