Summary:
- Medtronic (MDT, Financial) plans to spin off its diabetes division to enhance growth.
- The new independent company will be led by Que Dallara and based in Northridge, California.
- Analysts forecast an optimistic price target and maintain an "Outperform" status for Medtronic.
Medtronic (MDT) is executing a strategic spin-off of its diabetes segment to form an independent entity. This transformative move is spearheaded by division head Que Dallara and will see the new company headquartered in Northridge, California. The decision aims to propel growth as Medtronic addresses FDA safety concerns, leveraging a workforce of approximately 8,000. Investors are keenly observing this shift as it unfolds.
Wall Street Analysts Forecast
Wall Street analysts provide a comprehensive outlook for Medtronic PLC (MDT, Financial), with a one-year price target average of $96.06, indicating potential growth from the current price of $86.37. The high estimate reaches $112.46, while the low is $85.00. This forecast suggests an upside of 11.22%. For detailed analyses, visit the Medtronic PLC (MDT) Forecast page.
Consensus from 34 brokerage firms rates Medtronic PLC (MDT, Financial) at an average of 2.4, signaling an "Outperform" status. This rating is part of a 1 to 5 scale, where 1 equals Strong Buy and 5 is Sell, reflecting a generally positive sentiment toward Medtronic's stock.
According to GuruFocus estimates, Medtronic PLC's (MDT, Financial) GF Value is projected at $97.52 over the next year, representing a potential upside of 12.91% from the current price of $86.37. GF Value provides an estimate of the fair market value derived from historical trading multiples, past growth, and future business performance projections. For more information, explore the Medtronic PLC (MDT) Summary page.
