Medtronic plc (NYSE:MDT - Get Free Report) was the recipient of unusually large options trading activity on Friday. Stock traders bought 19,680 put options on the company. This is an increase of approximately 76% compared to the typical volume of 11,190 put options.
Medtronic Stock Down 0.8 %
Shares of NYSE:MDT traded down $0.63 during midday trading on Tuesday, hitting $82.53. The stock had a trading volume of 3,471,656 shares, compared to its average volume of 6,620,569. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The business's 50-day simple moving average is $90.68 and its 200-day simple moving average is $87.89. Medtronic has a 12 month low of $75.96 and a 12 month high of $96.25. The company has a market cap of $105.84 billion, a P/E ratio of 25.03, a PEG ratio of 2.22 and a beta of 0.79.
Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The company had revenue of $8.29 billion for the quarter, compared to analysts' expectations of $8.33 billion. On average, sell-side analysts forecast that Medtronic will post 5.46 earnings per share for the current fiscal year.
Medtronic Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic's dividend payout ratio is 85.11%.
Analysts Set New Price Targets
A number of research firms have issued reports on MDT. 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 research note on Tuesday, March 4th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. 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 report on Wednesday, December 18th. Royal Bank of Canada reiterated an "outperform" rating and issued a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. Finally, Robert W. Baird increased their price objective on shares of 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 assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $96.07.
Check Out Our Latest Research Report on MDT
Insiders Place Their Bets
In other news, EVP Brett A. Wall sold 12,437 shares of the business's stock in a transaction on 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 completion of the transaction, the executive vice president now owns 40,979 shares of the company's stock, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.20% of the company's stock.
Hedge Funds Weigh In On Medtronic
Institutional investors and hedge funds have recently modified their holdings of the stock. Mainstream Capital Management LLC acquired a new position in Medtronic in the 4th quarter valued at about $26,000. Rakuten Securities Inc. increased its stake in shares of Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after purchasing an additional 294 shares during the period. Wood Tarver Financial Group LLC acquired a new stake in Medtronic during the 4th quarter worth approximately $27,000. Stephens Consulting LLC boosted its stake in Medtronic by 145.7% in the 4th 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 during the period. Finally, Optiver Holding B.V. bought a new stake in Medtronic in the 4th quarter valued at $31,000. 82.06% of the stock is currently 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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