Medtronic (NYSE:MDT) Stock Price Up 0.3% - Should You Buy?

Medtronic plc (NYSE:MDT - Get Free Report)'s stock price shot up 0.3% during mid-day trading on Monday . The stock traded as high as $84.33 and last traded at $84.27. 672,321 shares were traded during mid-day trading, a decline of 89% from the average session volume of 6,236,531 shares. The stock had previously closed at $84.01.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MDT shares. Sanford C. Bernstein increased their price target on Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 20th. 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 report on Wednesday, August 21st. JPMorgan Chase & Co. lowered their price target on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a research report on Friday, November 15th. Truist Financial lifted their price objective on shares of Medtronic from $90.00 to $93.00 and gave the company a "hold" rating in a report on Monday, October 14th. Finally, Daiwa America upgraded Medtronic to a "strong-buy" rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $95.27.

Medtronic Stock Performance

The stock has a 50-day moving average price of $88.25 and a 200 day moving average price of $84.99. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $107.46 billion, a price-to-earnings ratio of 25.77, a P/E/G ratio of 2.38 and a beta of 0.82.

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. On average, analysts forecast that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.34%. Medtronic's payout ratio is currently 85.63%.

Institutional Trading of Medtronic

Several institutional investors have recently modified their holdings of the stock. Fortitude Family Office LLC acquired a new stake in shares of Medtronic in the third quarter valued at approximately $27,000. Darwin Wealth Management LLC purchased a new position in Medtronic during the 3rd quarter worth $27,000. Highline Wealth Partners LLC acquired a new position in Medtronic in the third quarter valued at $27,000. J. Stern & Co. LLP purchased a new stake in shares of Medtronic in the third quarter valued at about $30,000. Finally, Chelsea Counsel Co. acquired a new stake in shares of Medtronic during the third quarter worth about $45,000. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.