Medtronic (NYSE:MDT) Shares Up 0% - Still a Buy?

Medtronic plc (NYSE:MDT - Get Free Report)'s share price rose 0% during trading on Tuesday . The company traded as high as $90.90 and last traded at $90.56. Approximately 901,314 shares were traded during trading, a decline of 88% from the average daily volume of 7,341,353 shares. The stock had previously closed at $90.53.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of recent research reports. Robert W. Baird dropped their target price on Medtronic from $96.00 to $93.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 20th. Royal Bank of Canada raised shares of Medtronic from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $98.00 to $105.00 in a report on Thursday, October 10th. JPMorgan Chase & Co. reduced their target price on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a report on Friday, November 15th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research report on Monday, November 18th. Finally, 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. 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 stock. According to data from MarketBeat.com, Medtronic has an average rating of "Hold" and an average price target of $95.00.

Medtronic Trading Up 0.5 %

The stock has a market cap of $116.67 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The company has a 50 day moving average of $84.47 and a two-hundred day moving average of $86.16. 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 data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts' consensus estimates 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 in the previous year, the business earned $1.25 earnings per share. The business's revenue was up 5.2% compared to the same quarter last year. Sell-side analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic's payout ratio is 85.63%.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the firm's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares of the company's stock, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company's stock.

Hedge Funds Weigh In On Medtronic

Hedge funds have recently made changes to their positions in the company. Fortitude Family Office LLC acquired a new position in Medtronic during the third quarter worth about $27,000. Highline Wealth Partners LLC purchased a new position in Medtronic in the 3rd quarter worth approximately $27,000. Darwin Wealth Management LLC acquired a new position in shares of Medtronic during the 3rd quarter worth approximately $27,000. Stephens Consulting LLC grew its position in shares of 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 purchasing an additional 204 shares in the last quarter. Finally, J. Stern & Co. LLP acquired a new stake in shares of Medtronic in the third quarter valued at approximately $30,000. Institutional investors and hedge funds own 82.06% of the company's stock.

About Medtronic

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.