Shares of Medtronic plc (NYSE:MDT - Get Free Report) rose 0.1% during mid-day trading on Friday after the company announced a dividend. The company traded as high as $93.27 and last traded at $93.21. Approximately 1,267,090 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 6,009,186 shares. The stock had previously closed at $93.13.
The newly announced dividend which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 2.99%. Medtronic's dividend payout ratio (DPR) is 85.11%.
Analysts Set New Price Targets
MDT has been the topic of a number of recent research reports. UBS Group increased their target price on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. JPMorgan Chase & Co. cut their target price 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. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and increased their price target for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company cut their price objective on shares of Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $96.07.
Check Out Our Latest Analysis on Medtronic
Medtronic Trading Down 0.8 %
The stock has a fifty day moving average of $88.33 and a 200-day moving average of $87.80. The company has a market cap of $120.24 billion, a PE ratio of 28.50, a PEG ratio of 2.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.
Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly 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. The firm had revenue of $8.29 billion for 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%. Sell-side analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, the executive vice president now owns 40,979 shares of the company's stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by company insiders.
Institutional Trading of Medtronic
Institutional investors and hedge funds have recently made changes to their positions in the company. Equitable Trust Co. increased its holdings in Medtronic by 23.0% during the third quarter. Equitable Trust Co. now owns 20,677 shares of the medical technology company's stock valued at $1,862,000 after buying an additional 3,869 shares during the period. CWA Asset Management Group LLC purchased a new position in shares of Medtronic in the 3rd quarter valued at $418,000. Verdence Capital Advisors LLC raised its position in shares of Medtronic by 10.1% in the 3rd quarter. Verdence Capital Advisors LLC now owns 9,631 shares of the medical technology company's stock worth $867,000 after acquiring an additional 885 shares in the last quarter. Assetmark Inc. lifted its stake in shares of Medtronic by 2.1% during the 3rd quarter. Assetmark Inc. now owns 250,501 shares of the medical technology company's stock worth $22,553,000 after purchasing an additional 5,210 shares during the last quarter. Finally, XML Financial LLC boosted its position in Medtronic by 12.1% during the third quarter. XML Financial LLC now owns 12,536 shares of the medical technology company's stock valued at $1,129,000 after purchasing an additional 1,351 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.
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.
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