Shares of Medtronic plc (NYSE:MDT - Get Free Report) fell 0.9% during mid-day trading on Friday . The stock traded as low as $89.63 and last traded at $90.37. 2,365,229 shares were traded during mid-day trading, a decline of 61% from the average session volume of 6,065,762 shares. The stock had previously closed at $91.22.
Wall Street Analysts Forecast Growth
MDT has been the topic of a number of recent analyst reports. Barclays lifted their price target on Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a report on Tuesday, November 26th. Robert W. Baird lifted their target price on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. UBS Group lifted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $96.07.
Read Our Latest Research Report on MDT
Medtronic Stock Performance
The business has a 50 day moving average of $90.67 and a 200-day moving average of $88.05. The company has a market capitalization of $115.65 billion, a P/E ratio of 27.41, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.
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 return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion for the quarter, compared to analysts' expectations of $8.33 billion. On average, sell-side analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.
Medtronic Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.11%. The ex-dividend date is Friday, March 28th. Medtronic's payout ratio is 85.11%.
Insider Activity
In related news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares of the company's stock, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.20% of the company's stock.
Institutional Trading of Medtronic
Several institutional investors and hedge funds have recently modified their holdings of MDT. 111 Capital bought a new position in shares of Medtronic in the fourth quarter worth approximately $919,000. Wealth Enhancement Advisory Services LLC grew its stake in Medtronic by 32.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 477,719 shares of the medical technology company's stock worth $38,160,000 after buying an additional 116,310 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new position in Medtronic in the 4th quarter worth approximately $2,599,000. Capstone Triton Financial Group LLC increased its holdings in shares of Medtronic by 2.2% in the 4th quarter. Capstone Triton Financial Group LLC now owns 10,009 shares of the medical technology company's stock worth $800,000 after buying an additional 213 shares during the last quarter. Finally, Mattson Financial Services LLC raised its position in shares of Medtronic by 6.3% during the 4th quarter. Mattson Financial Services LLC now owns 42,159 shares of the medical technology company's stock valued at $3,368,000 after buying an additional 2,489 shares in the last quarter. Hedge funds and other institutional investors 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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