Medtronic (NYSE:MDT) Shares Down 0% - Should You Sell?

Medtronic plc (NYSE:MDT - Get Free Report)'s share price dropped 0% on Wednesday . The company traded as low as $85.01 and last traded at $85.70. Approximately 680,768 shares were traded during trading, a decline of 89% from the average daily volume of 6,246,251 shares. The stock had previously closed at $85.71.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MDT shares. Barclays increased their price target on Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research report on Monday, November 18th. Wells Fargo & Company decreased their price objective on Medtronic from $106.00 to $98.00 and set an "overweight" rating on the stock in a report on Wednesday, November 20th. Robert W. Baird cut their target price on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating for the company in a research note on Wednesday, November 20th. Finally, Sanford C. Bernstein boosted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $95.27.

Medtronic Price Performance

The stock has a market cap of $109.39 billion, a PE ratio of 26.21, a PEG ratio of 2.45 and a beta of 0.82. The company has a 50-day simple moving average of $88.54 and a 200-day simple moving average of $85.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period in the previous year, the company posted $1.25 EPS. Medtronic's revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Medtronic

Several large investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Medtronic by 436.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company's stock valued at $661,125,000 after buying an additional 5,975,110 shares during the period. Bank of Montreal Can grew its holdings in Medtronic by 65.0% during the 3rd quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company's stock worth $406,122,000 after acquiring an additional 1,790,483 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Medtronic by 1,195.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company's stock valued at $144,637,000 after buying an additional 1,695,800 shares during the period. Janus Henderson Group PLC boosted its stake in Medtronic by 58.4% during the 3rd quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company's stock valued at $346,705,000 after purchasing an additional 1,420,263 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Medtronic by 8,908.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company's stock worth $116,896,000 after buying an additional 1,284,002 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.