Medtronic Stock Appears Attractive Around $100 Levels
- Date: 06-Oct-2020
- Source: Forbes
- Sector:Financial Markets
- Country:GCC
Medtronic Stock Appears Attractive Around $100 Levels
Mounds View, Minnesota, Medtronic, a maker of ventilators for the fight against Covid-19. (Photo by: ... [+] Michael Siluk/Education Images/Universal Images Group via Getty Images)
Education Images/Universal Images Group
We believe that Medtronic stock (NYSE: MDT) could offer an upside of roughly 15% from the current levels. MDT stock trades at $102 currently and it is down 9% so far this year as well as from the pre-Covid high of $112 seen in February. Also, MDT stock has gained 42% from the low of $72 seen in March 2020, as the Fed stimulus largely put investor concerns about the near-term survival of companies to rest.
For Medtronic, deferment of elective surgeries earlier in the year impacted its sales, especially in Q2, as we