Analysts Are Neutral on These Healthcare Stocks: CNMD, MDT

By Austin Angelo

Analysts fell to the sidelines weighing in on Conmed Corp. (NASDAQ: CNMD), Medtronic (NYSE: MDT) and Magellan Health (NASDAQ: MGLN) with neutral ratings,indicating that the experts are neither bullish nor bearish on the stocks.

Conmed Corp. (NASDAQ: CNMD)

In a report released yesterday, Richard Newitter from Leerink Swann reiterated a Hold rating on Conmed Corp. (NASDAQ: CNMD), with a price target of $48. The company’s shares opened today at $44.80.

According to TipRanks.com, Newitter is a 4-star analyst with an average return of 6.4% and a 57.3% success rate. Newitter covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp., Cardiovascular Systems, and Zimmer Biomet Holdings.

Conmed Corp. has an analyst consensus of Moderate Buy, with a price target consensus of $50.50.

Medtronic (NYSE: MDT)

Leerink Swann analyst Danielle Antalffy reiterated a Hold rating on Medtronic (NYSE: MDT) yesterday and set a price target of $80. The company’s shares opened today at $73.26, close to its 52-week low of $71.03.

Antalffy wrote:

“We remain cautious on the company’s ability to manage through what we believe could be meaningful top-line headwinds in F2H17 and FY2018 in order to return to and sustain a solid mid- single-digit growth trajectory after just 3% growth in F2Q17, including: (1) A competitive CRM (cardiac rhythm management) product cycle, (2) Current and upcoming competitive launches in DES (drug eluting stents), (3) Potential modest share loss in U.S. TAVR (transcatheter aortic valve replacement) with a competitor recently receiving an expanded indication that is likely ~12-18 months ahead of MDT only partially offset by MDT’s recent large valve size launch; and (4) Continued share loss in Neuromodulation, particularly in SCS (spinal cord stimulation), DBS (deep brain stimulation), and implantable drug infusion pumps.”

According to TipRanks.com, Antalffy is a 4-star analyst with an average return of 6.6% and a 53.6% success rate. Antalffy covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp., Cardiovascular Systems, and Baxter International.

Medtronic has an analyst consensus of Strong Buy, with a price target consensus of $89.50.

Magellan Health (NASDAQ: MGLN)

In a report released yesterday, Ana Gupte from Leerink Swann reiterated a Hold rating on Magellan Health (NASDAQ: MGLN), with a price target of $78. The company’s shares opened today at $71, close to its 52-week high of $72.31.

According to TipRanks.com, Gupte is a 4-star analyst with an average return of 5.7% and a 66.1% success rate. Gupte covers the Healthcare sector, focusing on stocks such as WellCare Health Plans, Universal American, and Acadia Healthcare.

Magellan Health has an analyst consensus of Hold, with a price target consensus of $76.