Medtronic plc (NYSE:MDT - Get Free Report)'s share price traded down 0.7% during mid-day trading on Friday . The stock traded as low as $90.69 and last traded at $91.35. 992,166 shares traded hands during trading, a decline of 87% from the average session volume of 7,426,349 shares. The stock had previously closed at $91.99.
Analyst Upgrades and Downgrades
Several research firms have recently commented on MDT. JPMorgan Chase & Co. reduced their price target on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a research report on Friday, November 15th. Wells Fargo & Company lowered their price objective on shares of Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a research note on Wednesday, November 20th. Barclays boosted their target price on Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 26th. Truist Financial reduced their price objective on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a report on Wednesday, December 18th. Finally, Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $95.00.
View Our Latest Analysis on MDT
Medtronic Trading Down 0.3 %
The stock has a market capitalization of $116.11 billion, a price-to-earnings ratio of 27.69, a P/E/G ratio of 2.57 and a beta of 0.84. 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 company has a fifty day moving average of $84.38 and a two-hundred day moving average of $86.09.
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. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business had revenue of $8.40 billion during the quarter, compared to analysts' expectations of $8.27 billion. During the same period last year, the firm earned $1.25 EPS. The company's quarterly revenue was up 5.2% compared to the same quarter last year. On average, research analysts expect that Medtronic plc will post 5.45 EPS for the current year.
Medtronic Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date was Friday, December 27th. Medtronic's dividend payout ratio is currently 85.63%.
Insider Activity
In related news, EVP Brett A. Wall sold 9,850 shares of the company's stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the sale, the executive vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new position in shares of Medtronic during the 3rd quarter worth $27,000. Darwin Wealth Management LLC purchased a new stake in Medtronic during the third quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new stake in Medtronic in the 3rd quarter valued at $27,000. J. Stern & Co. LLP acquired a new stake in shares of Medtronic in the third quarter valued at about $30,000. Finally, Stephens Consulting LLC grew its position in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 204 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other 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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