Medtronic plc (NYSE:MDT - Get Free Report) dropped 0.2% on Wednesday . The stock traded as low as $83.21 and last traded at $83.43. Approximately 983,169 shares were traded during trading, a decline of 84% from the average daily volume of 6,228,050 shares. The stock had previously closed at $83.58.
Wall Street Analyst Weigh In
MDT has been the subject of several recent research reports. Evercore ISI increased their price target on Medtronic from $100.00 to $104.00 and gave the stock an "outperform" rating in a report on Tuesday, October 1st. Oppenheimer raised their target price on Medtronic from $92.00 to $94.00 and gave the company a "market perform" rating in a report on Wednesday, August 21st. Barclays raised their target price on Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. Wells Fargo & Company reduced their target price on Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday, November 20th. Finally, Citigroup raised their target price on Medtronic from $85.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $95.27.
Read Our Latest Research Report on Medtronic
Medtronic Trading Down 0.6 %
The stock has a market cap of $106.57 billion, a PE ratio of 25.51, a PEG ratio of 2.38 and a beta of 0.82. The business has a 50-day moving average of $88.00 and a 200 day moving average of $85.02. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.
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, beating 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 return on equity of 13.79% and a net margin of 13.00%. The firm's revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 EPS. Equities research analysts predict that Medtronic plc will post 5.45 EPS for the current fiscal year.
Medtronic Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.37%. The ex-dividend date is Friday, December 27th. Medtronic's dividend payout ratio (DPR) is 85.63%.
Hedge Funds Weigh In On Medtronic
Hedge funds and other institutional investors have recently modified their holdings of the company. Fortitude Family Office LLC purchased a new position in Medtronic in the 3rd quarter worth approximately $27,000. Darwin Wealth Management LLC purchased a new position in Medtronic in the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC purchased a new position in Medtronic in the 3rd quarter worth approximately $27,000. J. Stern & Co. LLP purchased a new position in Medtronic in the 3rd quarter worth approximately $30,000. Finally, Chelsea Counsel Co. purchased a new position in Medtronic in the 3rd quarter worth approximately $45,000. 82.06% of the stock is owned by institutional investors and hedge funds.
Medtronic Company Profile
(
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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