Medtronic plc (NYSE:MDT - Get Free Report) shares reached a new 52-week high on Monday . The company traded as high as $95.57 and last traded at $96.02, with a volume of 277495 shares changing hands. The stock had previously closed at $94.50.
Analyst Ratings Changes
MDT has been the subject of a number of analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. Wells Fargo & Company lowered their price target on Medtronic from $106.00 to $98.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 20th. UBS Group upped their target price on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Finally, Barclays increased their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $96.07.
Check Out Our Latest Stock Report on Medtronic
Medtronic Stock Performance
The stock has a 50-day moving average of $88.89 and a 200 day moving average of $87.88. The stock has a market cap of $117.10 billion, a PE ratio of 27.75, a P/E/G ratio of 2.22 and a beta of 0.80. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.
Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm had revenue of $8.29 billion for the quarter, compared to analysts' expectations of $8.33 billion. Equities analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.
Medtronic Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Friday, March 28th. Medtronic's dividend payout ratio (DPR) is presently 85.11%.
Insider Buying and Selling
In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares of the company's stock, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.20% of the company's stock.
Institutional Trading of Medtronic
Several institutional investors have recently added to or reduced their stakes in MDT. CWA Asset Management Group LLC acquired a new position in Medtronic in the 3rd quarter valued at about $418,000. Baker Avenue Asset Management LP grew its holdings in shares of Medtronic by 12.4% in the third quarter. Baker Avenue Asset Management LP now owns 4,084 shares of the medical technology company's stock valued at $368,000 after purchasing an additional 450 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Medtronic during the 3rd quarter worth approximately $123,000. Patten & Patten Inc. TN lifted its holdings in Medtronic by 24.0% during the 3rd quarter. Patten & Patten Inc. TN now owns 8,939 shares of the medical technology company's stock worth $805,000 after buying an additional 1,731 shares in the last quarter. Finally, GDS Wealth Management purchased a new position in Medtronic in the 3rd quarter valued at approximately $272,000. Institutional investors and hedge funds own 82.06% of the company's stock.
Medtronic Company Profile
(
Get Free Report)
Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.
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