Medtronic plc (NYSE:MDT - Get Free Report)'s stock price was up 1.1% on Thursday . The stock traded as high as $89.06 and last traded at $89.20. Approximately 1,174,189 shares were traded during trading, a decline of 81% from the average daily volume of 6,103,681 shares. The stock had previously closed at $88.23.
Analysts Set New Price Targets
A number of research firms recently commented on MDT. Truist Financial dropped their target price on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a research report on Wednesday, December 18th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $105.00 price objective on shares of Medtronic in a report on Wednesday, February 19th. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and boosted their target price for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Robert W. Baird lifted their price target on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $96.07.
Read Our Latest Stock Analysis on MDT
Medtronic Price Performance
The company has a market cap of $112.38 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 2.22 and a beta of 0.80. The company's 50 day moving average price is $90.98 and its 200 day moving average price is $88.01. 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 posted its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm had revenue of $8.29 billion during the quarter, compared to analysts' expectations of $8.33 billion. Equities research analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.
Medtronic Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.20%. The ex-dividend date is Friday, March 28th. Medtronic's payout ratio is 85.11%.
Insiders Place Their Bets
In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company's stock.
Hedge Funds Weigh In On Medtronic
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mainstream Capital Management LLC purchased a new stake in shares of Medtronic in the 4th quarter worth about $26,000. Stephens Consulting LLC raised its position in Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after acquiring an additional 204 shares during the last quarter. Rakuten Securities Inc. grew its position in shares of Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 294 shares during the last quarter. Wood Tarver Financial Group LLC purchased a new position in shares of Medtronic during the 4th quarter worth approximately $27,000. Finally, Optiver Holding B.V. acquired a new position in shares of Medtronic during the 4th quarter worth approximately $31,000. 82.06% of the stock is owned by institutional investors and hedge funds.
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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