Medtronic plc (NYSE: MDT) is set to announce its third-quarter fiscal year 2024 earnings before the opening bell on February 20, 2024. Analysts are expecting the Dublin-based company to report earnings of $1.26 per share, slightly lower than the year-ago earnings of $1.30 per share. Revenue is projected to come in at $7.95 billion for the quarter.
One recent development for Medtronic is the CE Mark approval for the MiniMed 780G system with Simplera Sync, a disposable continuous glucose monitor that eliminates the need for fingersticks or overtape. Additionally, the company received FDA approval for its Percept RC Deep Brain Stimulation (DBS) system.
Despite these positive developments, Medtronic’s shares fell 0.4% to close at $84.42 on Friday. Investors will be eagerly awaiting the earnings report to see how the company has performed in the latest quarter.
For investors looking for insights from analysts, Benzinga offers a platform where readers can access the latest analyst ratings and sort by various variables such as stock ticker, company name, analyst firm, or rating change.
Looking at the recent ratings from Benzinga’s most accurate analysts, we see a range of opinions on Medtronic:
– Truist Securities analyst Richard Newitter maintained a Hold rating and raised the price target from $84 to $87 on December 22, 2023, with an accuracy rate of 73%.
– Oppenheimer analyst Steven Lichtman reiterated a Perform rating with a price target of $89 on August 23, 2023, with an accuracy rate of 72%.
– UBS analyst Matthew Taylor maintained a Sell rating and increased the price target from $79 to $82 on August 23, 2023, with an accuracy rate of 68%.
– Wells Fargo analyst Larry Biegelsen maintained an Overweight rating and raised the price target from $100 to $102 on August 23, 2023, with an accuracy rate of 73%.
– Stifel analyst Rick Wise maintained a Buy rating and increased the price target from $92 to $95 on August 23, 2023, with an accuracy rate of 76%.
As investors await the earnings release, it will be interesting to see how Medtronic’s performance in the third quarter of fiscal year 2024 aligns with analyst expectations and how the market reacts to the news.
