Medtronic (NYSE:MDT) Shares Up 0.2% - Should You Buy?

Medtronic plc (NYSE:MDT - Get Free Report)'s share price was up 0.2% on Monday . The stock traded as high as $81.20 and last traded at $80.86. Approximately 1,207,164 shares were traded during trading, a decline of 81% from the average daily volume of 6,473,294 shares. The stock had previously closed at $80.66.

Wall Street Analyst Weigh In

Several research firms recently commented on MDT. Truist Financial cut their price target on Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a research note on Wednesday, December 18th. Citigroup raised their price target on shares of Medtronic from $85.00 to $92.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 1st. Sanford C. Bernstein raised their price objective 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. cut 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. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned 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 $95.00.

Medtronic Price Performance

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The stock has a market capitalization of $104.74 billion, a price-to-earnings ratio of 24.98, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83. The company has a 50-day simple moving average of $83.83 and a two-hundred day simple moving average of $84.96.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion for the quarter, compared to analysts' expectations of $8.27 billion. During the same quarter last year, the company earned $1.25 EPS. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities research analysts predict that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.43%. The ex-dividend date was Friday, December 27th. Medtronic's payout ratio is currently 85.63%.

Insider Transactions at Medtronic

In other 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 sale, the executive vice president now directly owns 40,708 shares of the company's stock, 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 is accessible through this link. Company insiders own 0.20% of the company's stock.

Institutional Investors Weigh In On Medtronic

A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Medtronic by 0.9% in the 3rd quarter. State Street Corp now owns 60,731,367 shares of the medical technology company's stock worth $5,509,155,000 after buying an additional 520,027 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in Medtronic by 3.3% in the 3rd quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company's stock valued at $772,727,000 after acquiring an additional 275,870 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Medtronic by 436.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company's stock valued at $661,125,000 after purchasing an additional 5,975,110 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Medtronic by 7.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company's stock worth $560,494,000 after purchasing an additional 515,751 shares during the last quarter. Finally, Raymond James & Associates raised its holdings in shares of Medtronic by 2.3% in the 3rd quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company's stock worth $575,460,000 after purchasing an additional 145,504 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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.