Shares of Medtronic plc (NYSE:MDT - Get Free Report) dropped 0.8% during trading on Tuesday . The stock traded as low as $93.52 and last traded at $93.58. Approximately 2,315,882 shares were traded during trading, a decline of 61% from the average daily volume of 6,007,923 shares. The stock had previously closed at $94.30.
Analysts Set New Price Targets
MDT has been the subject of several research analyst reports. Sanford C. Bernstein lifted their target price on shares of Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. reduced their target price on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a report on Friday, November 15th. UBS Group boosted 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. Barclays boosted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. Finally, Robert W. Baird boosted their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $96.07.
Check Out Our Latest Stock Report on Medtronic
Medtronic Stock Performance
The stock's 50-day moving average is $87.82 and its 200-day moving average is $87.68. The firm has a market capitalization of $120.75 billion, a price-to-earnings ratio of 28.62, a PEG ratio of 2.22 and a beta of 0.84. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48.
Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to analysts' expectations of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. On average, analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.
Medtronic Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.97%. The ex-dividend date was Friday, December 27th. Medtronic's dividend payout ratio (DPR) is currently 85.11%.
Insider Buying and Selling at Medtronic
In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the company's stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company's stock.
Hedge Funds Weigh In On Medtronic
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mainstream Capital Management LLC bought a new stake in shares of Medtronic in the 4th quarter valued at $26,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic in the 3rd quarter valued at $27,000. Stephens Consulting LLC boosted its stake 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 valued at $27,000 after purchasing an additional 204 shares during the last quarter. Rakuten Securities Inc. boosted its stake in Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after acquiring an additional 294 shares in the last quarter. Finally, J. Stern & Co. LLP bought a new position in Medtronic during the third quarter worth $30,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.
About Medtronic
(
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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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