11:35 AM EDT, 05/23/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We trim our target by $1 to $97, a 17.8x multiple of our FY 25 EPS forecast, in line with MDT's historical forward average. We narrow our FY 25 EPS estimate by $0.04 to $5.45 and initiate FY 26's at $5.89. Apr-Q EPS of $1.46 vs. $1.57, beat the S&P Capital IQ consensus view by a cent. MDT exceeded our top-line expectations by 2% in the quarter driven by strong performance in the Diabetes and Cranial & Spinal Technologies (Neuroscience segment). MDT issued its FY 23 guidance for revenue in the 4%-5% range and EPS of $5.40-$5.50. We think MDT's EPS will fall in the middle of this range, with growth driven by new product launches spanning all business segments, such as in Cardiovascular Structural Heart (Evolut FX+ TAVR system, Micra AV2, and VR2), Neuroscience (Percept RC neurostimulator and Inceptiv closed-loop spinal cord stimulator), Diabetes (Simplera Sync CGM to use with the MiniMed 780G pump), and Medical Surgical (BIS brain monitoring system and Touch Surgery Live Stream for surgeon training).