Medtronic (NYSE:MDT) Stock Price Up 0.1% - Time to Buy?

Medtronic plc (NYSE:MDT - Get Free Report)'s stock price rose 0.1% during trading on Tuesday . The stock traded as high as $90.50 and last traded at $90.25. Approximately 796,813 shares were traded during trading, a decline of 87% from the average daily volume of 6,102,713 shares. The stock had previously closed at $90.13.

Analyst Ratings Changes

MDT has been the topic of several recent research reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. Truist Financial cut their target price on Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a research report on Wednesday, December 18th. UBS Group increased their price target on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Robert W. Baird lifted their price objective on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Finally, Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and increased their target price for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Medtronic presently has an average rating of "Hold" and an average target price of $96.07.

Medtronic Trading Down 0.5 %

The company has a market cap of $112.65 billion, a P/E ratio of 26.70, a price-to-earnings-growth 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. The firm's 50-day moving average price is $91.00 and its 200-day moving average price is $88.05.

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Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion for the quarter, compared to analysts' expectations of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. As a group, equities research analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic's dividend payout ratio (DPR) is presently 85.11%.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the firm's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Mainstream Capital Management LLC bought a new position in Medtronic during the fourth quarter valued at approximately $26,000. Stephens Consulting LLC raised its position in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after purchasing an additional 204 shares during the period. Rakuten Securities Inc. lifted its stake in Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after purchasing an additional 294 shares during the last quarter. Wood Tarver Financial Group LLC purchased a new stake in Medtronic during the fourth quarter valued at about $27,000. Finally, Optiver Holding B.V. bought a new position in shares of Medtronic during the fourth quarter valued at about $31,000. Institutional investors own 82.06% of the company's stock.

About Medtronic

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.