Goldman Sachs Reinstates Coverage of Medtronic (MDT)

Medtronic plc (NYSE:MDT) is one of the best healthcare stocks to buy with highest upside potential. On May 21, Goldman Sachs reinstated coverage of Medtronic plc (NYSE:MDT) with a Neutral rating and set a $84 price target on the stock, which offers 7.5% upside potential. The firm told investors in a research note that the shares at current levels offer a balanced risk/reward, trading at a 10% discount to Medtronic’s large-cap medical technology peers. Goldman Sachs added that it wants to see improving revenue and earnings growth before recommending the shares.

UBS and Jefferies Lower Views on Medtronic (MDT) Amid Diabetes Unit Changes

In a separate development, Medtronic plc (NYSE:MDT) announced on May 20 its intention to acquire SPR Therapeutics, Inc. (SPR), which is a privately held medical technology company that holds a leading position in temporary, percutaneous peripheral nerve stimulation therapies for chronic pain management. Management stated that the transaction comprises an upfront cash payment of approximately $650 million for all the outstanding equity in SPR, and is subject to customary closing conditions and regulatory approvals.

Medtronic plc (NYSE:MDT) is a medical technology company that manufactures, distributes, and sells device-based medical services and therapies. It operates under four primary segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit.

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