Medtronic (NYSE:MDT) Trading 0.6% Higher - What's Next?

Medtronic plc (NYSE:MDT - Get Free Report) was up 0.6% during mid-day trading on Tuesday . The stock traded as high as $82.29 and last traded at $81.81. Approximately 1,467,031 shares changed hands during trading, a decline of 76% from the average daily volume of 6,219,232 shares. The stock had previously closed at $81.35.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MDT. Piper Sandler lifted their price target on shares of Medtronic from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Wednesday, August 21st. Wells Fargo & Company decreased their price target on shares of Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a research note on Wednesday, November 20th. Stifel Nicolaus raised their price target on shares of Medtronic from $85.00 to $87.00 and gave the company a "hold" rating in a research report on Wednesday, August 21st. Truist Financial increased their price objective on Medtronic from $90.00 to $93.00 and gave the stock a "hold" rating in a research note on Monday, October 14th. Finally, Citigroup lifted their target price on Medtronic from $85.00 to $92.00 and gave the company a "neutral" rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $95.27.

Medtronic Stock Performance

The business's fifty day moving average price is $87.41 and its 200-day moving average price is $85.04. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The stock has a market capitalization of $104.34 billion, a PE ratio of 24.88, a P/E/G ratio of 2.35 and a beta of 0.82.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. Medtronic's revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 earnings per share. As a group, equities research analysts expect that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Friday, December 27th. Medtronic's dividend payout ratio (DPR) is currently 85.63%.

Institutional Investors Weigh In On Medtronic

Several hedge funds have recently bought and sold shares of MDT. Fortitude Family Office LLC bought a new stake in Medtronic during the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic in the third quarter worth $27,000. Darwin Wealth Management LLC bought a new position in shares of Medtronic during the third quarter valued at $27,000. J. Stern & Co. LLP purchased a new stake in shares of Medtronic during the third quarter valued at $30,000. Finally, Chelsea Counsel Co. bought a new stake in Medtronic in the 3rd quarter worth about $45,000. Institutional investors 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.