After seeing success with a “buy” rating, Needham shifted Medtronic to “strong buy.” The company’s stock now sits at $119 per share, a 31 percent uptick from $103.
Needham attributed the upgrade to the company’s “strong product cycle, valuation and potential to beat [full-year 2019] consensus,” according to Seeking Alpha.
On the other end, Zimmer Biomet’s stock was downgraded from “strong buy” to “buy.” The company’s stock is now $150 per share. Needham attributed the lack in orthopedic growth and portfolio management to Zimmer Biomet’s downgrade.
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