Medtronic plc (NYSE:MDT - Get Free Report)'s share price dropped 0% on Monday . The stock traded as low as $89.70 and last traded at $90.29. Approximately 1,120,548 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 6,087,349 shares. The stock had previously closed at $90.33.
Analyst Upgrades and Downgrades
MDT has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Barclays boosted 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. UBS Group increased their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Royal Bank of Canada reissued an "outperform" rating and issued a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. Finally, Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and raised their target price for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $96.07.
Read Our Latest Stock Analysis on MDT
Medtronic Price Performance
The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The firm's 50-day moving average price is $90.84 and its 200-day moving average price is $88.05. The stock has a market capitalization of $115.58 billion, a PE ratio of 27.38, a PEG ratio of 2.22 and a beta of 0.80.
Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, equities analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.
Medtronic Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic's payout ratio is 85.11%.
Insider Activity
In other news, EVP Brett A. Wall sold 9,850 shares of the company's stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the transaction, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company's stock.
Institutional Investors Weigh In On Medtronic
Several large investors have recently added to or reduced their stakes in MDT. Copley Financial Group Inc. purchased a new position in Medtronic during the 3rd quarter worth $694,000. Franklin Street Advisors Inc. NC increased its stake in shares of Medtronic by 32.6% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company's stock valued at $5,873,000 after buying an additional 18,057 shares during the period. Y Intercept Hong Kong Ltd raised its holdings in shares of Medtronic by 322.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company's stock valued at $6,626,000 after acquiring an additional 56,178 shares in the last quarter. Olstein Capital Management L.P. lifted its stake in Medtronic by 8.0% in the fourth quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company's stock worth $7,509,000 after acquiring an additional 7,000 shares during the period. Finally, Czech National Bank grew its holdings in Medtronic by 6.4% during the 4th quarter. Czech National Bank now owns 278,065 shares of the medical technology company's stock worth $22,212,000 after acquiring an additional 16,786 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.
About Medtronic
(
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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