Medtronic (NYSE:MDT) Trading Up 0.5% - What's Next?

Medtronic plc (NYSE:MDT - Get Free Report) rose 0.5% on Tuesday . The company traded as high as $91.35 and last traded at $91.33. Approximately 1,163,875 shares traded hands during trading, a decline of 83% from the average daily volume of 6,960,741 shares. The stock had previously closed at $90.84.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MDT shares. Sanford C. Bernstein boosted their price target on Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a report on Wednesday, November 20th. Barclays boosted their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 26th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research note on Monday, November 18th. Robert W. Baird decreased their price target on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company dropped their price target on Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Medtronic presently has an average rating of "Hold" and an average price target of $95.00.

Medtronic Stock Performance

The stock's 50 day simple moving average is $84.93 and its two-hundred day simple moving average is $86.56. The company has a market capitalization of $116.96 billion, a P/E ratio of 27.89, a P/E/G ratio of 2.57 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $8.27 billion. During the same period last year, the company earned $1.25 EPS. The firm's revenue was up 5.2% on a year-over-year basis. As a group, research analysts expect that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.07%. Medtronic's dividend payout ratio is currently 85.63%.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Mainstream Capital Management LLC bought a new stake in shares of Medtronic during the 4th quarter valued at $26,000. Fortitude Family Office LLC bought a new stake in shares of Medtronic during the third quarter worth about $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic in the third quarter valued at approximately $27,000. Darwin Wealth Management LLC bought a new position in Medtronic in the 3rd quarter valued at approximately $27,000. Finally, Stephens Consulting LLC grew its holdings in Medtronic by 145.7% during the 4th 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. Institutional investors own 82.06% of the company's stock.

Medtronic Company Profile

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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