Medtronic plc (NYSE:MDT - Get Free Report)'s stock price dropped 1.4% during mid-day trading on Friday after Truist Financial lowered their price target on the stock from $93.00 to $90.00. Truist Financial currently has a hold rating on the stock. Medtronic traded as low as $81.18 and last traded at $81.37. Approximately 1,419,737 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 6,652,403 shares. The stock had previously closed at $82.54.
A number of other analysts have also recently weighed in on MDT. Robert W. Baird upped their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. 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 report on Wednesday, February 19th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $96.14.
Get Our Latest Analysis on MDT
Insider Activity
In related news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by corporate insiders.
Institutional Trading of Medtronic
Institutional investors and hedge funds have recently bought and sold shares of the stock. Copley Financial Group Inc. acquired a new position in Medtronic in the third quarter valued at $694,000. Franklin Street Advisors Inc. NC lifted its position in shares of Medtronic by 32.6% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company's stock valued at $5,873,000 after acquiring an additional 18,057 shares during the period. Olstein Capital Management L.P. grew its holdings 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 purchasing an additional 7,000 shares during the period. Czech National Bank increased its position in Medtronic by 6.4% in the 4th quarter. Czech National Bank now owns 278,065 shares of the medical technology company's stock valued at $22,212,000 after buying an additional 16,786 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Medtronic by 2.7% in the 4th quarter. Empowered Funds LLC now owns 105,822 shares of the medical technology company's stock worth $8,453,000 after acquiring an additional 2,778 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.
Medtronic Stock Down 1.8 %
The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The stock has a fifty day moving average price of $89.56 and a two-hundred day moving average price of $87.60. The company has a market cap of $106.05 billion, a P/E ratio of 25.13, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79.
Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The company had revenue of $8.29 billion for the quarter, compared to analysts' expectations of $8.33 billion. On average, research analysts expect that Medtronic plc will post 5.46 EPS for the current year.
Medtronic Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Friday, March 28th. Medtronic's dividend payout ratio (DPR) is presently 85.11%.
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.
Further Reading
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