Analysts Note Medtronic's Tummy Tuck Surgery Sales Unaffected Globally Amid Weight-Loss Treatment(s) Rush
Portfolio Pulse from Vandana Singh
Medtronic Plc's Q1 FY24 performance exceeded market expectations, with improved gross margins and effective control of operating expenses. The company's future performance is expected to be positively impacted by strategic areas and impending product launches. Analysts from William Blair, Morgan Stanley, and Oppenheimer have expressed positive sentiments about the company's performance and future prospects. Mizuho Securities raised the price target for Medtronic to $100 from $95. Medtronic's shares are up 0.07% at $83.77.
August 23, 2023 | 4:35 pm
News sentiment analysis
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NEUTRAL IMPACT
Medtronic disclosed that its MedSurg segment experienced 'modest impacts' in US bariatric volumes, echoing Intuitive Surgical's 2Q commentary.
Medtronic's disclosure about 'modest impacts' in its MedSurg segment echoes Intuitive Surgical's 2Q commentary. However, the news does not provide enough information to predict a significant impact on Intuitive Surgical's stock price.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Medtronic's Q1 FY24 performance exceeded market expectations, with improved gross margins and effective control of operating expenses. The company's future performance is expected to be positively impacted by strategic areas and impending product launches. Mizuho Securities raised the price target for Medtronic to $100 from $95.
The positive Q1 FY24 performance, improved gross margins, and effective control of operating expenses indicate a strong financial position for Medtronic. The company's future performance is expected to be positively impacted by strategic areas and impending product launches. The raised price target by Mizuho Securities also indicates positive market sentiment towards the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100