Medtronic (MDT) Offering Possible 17.1% Return Over the Next 14 Calendar Days

Medtronic's most recent trend suggests a bearish bias. One trading opportunity on Medtronic is a Bear Call Spread using a strike $103.00 short call and a strike $108.00 long call offers a potential 17.1% return on risk over the next 14 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $103.00 by expiration. The full premium credit of $0.73 would be kept by the premium seller. The risk of $4.27 would be incurred if the stock rose above the $108.00 long call strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for Medtronic is bearish and the probability of a decline in share price is higher if the stock starts trending.

The 20-day moving average is moving down which suggests that the medium-term momentum for Medtronic is bearish.

The RSI indicator is at 38.56 level which suggests that the stock is neither overbought nor oversold at this time.

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LATEST NEWS for Medtronic

The Vanguard Health Care Fund Trims Medtronic, Chugai Pharmaceutical Positions
Wed, 04 Nov 2020 17:51:49 +0000
The fund's largest sales of the 3rd quarter

3 Medical Product Stocks Poised to Beat This Earnings Season
Wed, 04 Nov 2020 13:00:01 +0000
Here we discuss three medical product stocks that are due to report soon and are likely to beat estimates on earnings, on the back of several factors.

Medtronic Nabs FDA Approval For Nerve Monitoring System
Thu, 29 Oct 2020 13:05:49 +0000
Medtronic plc (MDT) has announced that it has received U.S. Food and Drug Administration (FDA) 510(k) clearance of the NIM Vital nerve monitoring system, which enables physicians to identify, confirm, and monitor nerve function to help reduce the risk of nerve damage during head and neck surgery.According to MDT, the NIM Vital system uses proprietary technology to provide detailed intraoperative nerve condition data that informs surgical strategy, increases operative efficiency and precision, and helps protect patients’ quality of life.The company also announced that it has further ramped up its ear nose and throat (ENT) portfolio with the recent acquisition of privately-held Ai Biomed Corp., maker of the PTeye parathyroid detection system. The probe-based system is designed to help confirm parathyroid tissue identified visually by the physician during thyroid surgery.“The addition of these two technologies builds on our 20-year legacy of providing innovative solutions that assist surgeons during critical head and neck procedures,” said Vince Racano, VP of Medtronic’s ENT business.“By offering these complementary technologies – the NIM Vital system to protect crucial nerves and the PTeye system to help confirm parathyroid tissue identified visually by the surgeon – we’re helping physicians address two of the most common challenges during these procedures.”The acquisition of Ai Biomed Corp. is the seventh in a series of tuck-in acquisitions that Medtronic has made in 2020. MDT states that the revenue and earnings contribution is expected to be immaterial to the Medtronic ENT business in the first year and accretive thereafter.Shares in the medical device stock are down 10% year-to-date, but the stock scores a bullish Strong Buy consensus from the Street. That’s with 18 recent buy ratings, vs 3 hold ratings and 1 sell rating.Meanwhile the average analyst price target of $120 indicates 17% upside potential from current levels.“Between delays in the development of its robotic system or the stumbles in Diabetes, MDT will still need to prove that it can be a consistent 5% grower, but with MDT’s markets growing at 5% roughly, M&A should provide a cushion to the top-line” comments BTIG analyst Ryan Zimmerman.He reiterated his buy rating on MDT with a $119 price target arguing that: “Investors should not expect incrementally more return to the bottom line as the focus will be top-line growth reinvestment, but in a market where top-line growth is highly rewarded, we think this strategy makes sense.” (See MDT stock analysis on TipRanks).Related News: Gilead Cuts 2020 Guidance As Remdesivir Sales Disappoint Eli Lilly Ends Covid-19 Trial In Hospitalized Patients On Disappointing Data Dexcom Drops 9% As Revenue Beat Fails To Impress Investors More recent articles from Smarter Analyst: * LVMH Agrees To Buy Tiffany At Lower Price; Street Sticks To Hold * Moderna Scores $1.1B From Covid-19 Vaccine Deposits; Shares Rise 3% * Etsy Beats Q3 Estimates On Robust Online Demand * Novartis Snaps Up Vedero Bio In $280M Deal; Street Says Buy

Medtronic Expands ENT Portfolio with FDA Clearance of NIM Vital™ Next Generation Intraoperative Nerve Monitoring System and Acquisiton of Ai Biomed Corp.
Thu, 29 Oct 2020 11:00:00 +0000
Medtronic plc (NYSE:MDT), the global leader in medical technology, today announced it has received U.S. Food and Drug Administration (FDA) 510(k) clearance of the NIM Vital™ nerve monitoring system, which enables physicians to identify, confirm, and monitor nerve function to help reduce the risk of nerve damage during head and neck surgery.1 The NIM Vital system uses proprietary technology to provide detailed intraoperative nerve condition data that informs surgical strategy,2 increases operative efficiency and precision,3 and helps protect patients' quality of life.4

University of British Columbia's energy-efficiency initiative receives a boost through the Low Carbon Economy Fund
Tue, 27 Oct 2020 22:00:00 +0000
VANCOUVER, BC, Oct. 27, 2020 /CNW/ – Canadians from coast to coast to coast are taking action to tackle climate change in their communities.

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