Medtronic (NYSE:MDT) Shares Up 2.2% - What's Next?

Medtronic plc (NYSE:MDT - Get Free Report)'s stock price was up 2.2% during trading on Friday . The stock traded as high as $91.15 and last traded at $89.85. Approximately 3,184,950 shares traded hands during trading, a decline of 57% from the average daily volume of 7,341,306 shares. The stock had previously closed at $87.94.

Wall Street Analyst Weigh In

MDT has been the subject of a number of research reports. Royal Bank of Canada restated an "outperform" rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research note on Wednesday. JPMorgan Chase & Co. decreased their price target on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a research note on Friday, November 15th. UBS Group raised their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday. Finally, Barclays lifted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Medtronic currently has a consensus rating of "Hold" and a consensus price target of $95.20.

Medtronic Stock Up 1.8 %

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 has a market cap of $114.83 billion, a PE ratio of 27.21, a P/E/G ratio of 2.46 and a beta of 0.84. The firm's 50 day moving average is $85.93 and its 200-day moving average is $87.03.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) 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 business had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.13%. The ex-dividend date was Friday, December 27th. Medtronic's payout ratio is currently 85.11%.

Insider Transactions at Medtronic

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MDT. Mainstream Capital Management LLC purchased a new position in shares of Medtronic in the fourth quarter valued at $26,000. Fortitude Family Office LLC bought a new position in shares of Medtronic in the 3rd quarter worth about $27,000. Highline Wealth Partners LLC bought a new position in shares of Medtronic in the 3rd quarter worth about $27,000. Darwin Wealth Management LLC bought a new position in shares of Medtronic in the 3rd quarter worth about $27,000. Finally, Stephens Consulting LLC lifted its position in shares of 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 buying an additional 204 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

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.

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