Medtronic (NYSE:MDT) Trading Down 0.5% - What's Next?

Medtronic plc (NYSE:MDT - Get Free Report)'s stock price fell 0.5% during trading on Monday . The stock traded as low as $89.25 and last traded at $90.37. 1,586,038 shares were traded during trading, a decline of 79% from the average session volume of 7,449,508 shares. The stock had previously closed at $90.82.

Analyst Upgrades and Downgrades

MDT has been the topic of several research reports. Royal Bank of Canada upgraded Medtronic from a "sector perform" rating to an "outperform" rating and raised their target price for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. JPMorgan Chase & Co. lowered their target price 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. Truist Financial reduced their target price on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a research report on Wednesday, December 18th. Barclays raised their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 26th. Finally, Robert W. Baird cut their price objective on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating for the company in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $95.00.

Medtronic Stock Performance

The firm's fifty day moving average price is $84.47 and its 200 day moving average price is $86.16. The stock has a market capitalization of $116.67 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results 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 analysts' expectations of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm's revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.25 EPS. Analysts forecast that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.08%. Medtronic's payout ratio is 85.63%.

Insider Buying and Selling

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 value of $1,119,330.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by company insiders.

Institutional Trading of Medtronic

A number of institutional investors have recently modified their holdings of MDT. Lake Street Advisors Group LLC raised its position in Medtronic by 4.5% during the fourth quarter. Lake Street Advisors Group LLC now owns 6,296 shares of the medical technology company's stock worth $507,000 after acquiring an additional 272 shares during the last quarter. Illinois Municipal Retirement Fund raised its holdings in shares of Medtronic by 2.7% in the fourth quarter. Illinois Municipal Retirement Fund now owns 159,372 shares of the medical technology company's stock worth $12,731,000 after acquiring an additional 4,235 shares during the last quarter. Vaughan David Investments LLC IL lifted its position in shares of Medtronic by 3.0% in the fourth quarter. Vaughan David Investments LLC IL now owns 382,890 shares of the medical technology company's stock valued at $30,585,000 after acquiring an additional 11,216 shares in the last quarter. Exchange Capital Management Inc. boosted its stake in shares of Medtronic by 3.7% during the 4th quarter. Exchange Capital Management Inc. now owns 37,679 shares of the medical technology company's stock worth $3,010,000 after purchasing an additional 1,359 shares during the last quarter. Finally, Brown Financial Advisors raised its position in shares of Medtronic by 11.9% in the fourth quarter. Brown Financial Advisors now owns 21,363 shares of the medical technology company's stock valued at $1,706,000 after buying an additional 2,264 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.