Wall Street's Most Accurate Analysts' Views On 3 Health Care Stocks Delivering High-Dividend Yields
Portfolio Pulse from Avi Kapoor
Wall Street's most accurate analysts have provided updates on three high-dividend yielding health care stocks: Organon & Co. (OGN), Medtronic plc (MDT), and Amgen Inc. (AMGN). OGN's price target was cut by analysts from Piper Sandler and Morgan Stanley, despite reporting better than expected Q4 earnings. MDT's price target was raised by Oppenheimer and Truist Securities, following a recall announcement from its Neurosurgery unit. AMGN's price target was increased by RBC Capital and Oppenheimer, after announcing positive results from a Phase 3 study of Otezla.
March 13, 2024 | 12:24 pm
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NEUTRAL IMPACT
Medtronic's price target was raised by Oppenheimer and Truist Securities following a recall announcement from its Neurosurgery unit.
The recall might pose a risk, but the increased price targets suggest analysts see it as a minor setback.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
Organon & Co. saw a cut in price targets from Piper Sandler and Morgan Stanley, despite better than expected Q4 earnings and 2024 guidance.
The cut in price targets may cause short-term uncertainty, but the positive earnings report and guidance could support the stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Amgen's price target was raised by RBC Capital and Oppenheimer following positive results from a Phase 3 study of Otezla.
The positive study results for Otezla are significant and could lead to increased sales, supporting a bullish outlook for AMGN.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90