Medtronic (NYSE:MDT) Stock Price Down 0.3% - Should You Sell?

Medtronic plc (NYSE:MDT - Get Free Report)'s stock price fell 0.3% during trading on Monday . The company traded as low as $85.94 and last traded at $86.28. 906,879 shares changed hands during trading, a decline of 85% from the average session volume of 6,248,844 shares. The stock had previously closed at $86.54.

Wall Street Analyst Weigh In

MDT has been the subject of a number of research analyst reports. UBS Group raised shares of Medtronic from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $76.00 to $90.00 in a research note on Thursday, August 15th. Evercore ISI upped their price objective on Medtronic from $100.00 to $104.00 and gave the stock an "outperform" rating in a report on Tuesday, October 1st. Robert W. Baird dropped their target price on Medtronic from $96.00 to $93.00 and set a "neutral" rating for the company in a research report on Wednesday, November 20th. Stifel Nicolaus boosted their price objective on Medtronic from $85.00 to $87.00 and gave the stock a "hold" rating in a report on Wednesday, August 21st. Finally, Oppenheimer raised their target price on shares of Medtronic from $92.00 to $94.00 and gave the company a "market perform" rating in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $95.27.

Medtronic Stock Performance

The stock has a market cap of $110.88 billion, a P/E ratio of 26.39, a PEG ratio of 2.45 and a beta of 0.84. The stock has a fifty day simple moving average of $88.69 and a 200-day simple moving average of $85.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same quarter last year, the firm earned $1.25 EPS. Medtronic's revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Institutional Investors Weigh In On Medtronic

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fortitude Family Office LLC acquired a new stake in Medtronic during the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic in the third quarter valued at about $27,000. Darwin Wealth Management LLC bought a new position in Medtronic during the third quarter worth about $27,000. Lynx Investment Advisory acquired a new stake in Medtronic in the 2nd quarter worth about $28,000. Finally, J. Stern & Co. LLP bought a new stake in Medtronic in the 3rd quarter valued at about $30,000. 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.

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