Medtronic Sees Unusually High Options Volume (NYSE:MDT)

Medtronic plc (NYSE:MDT - Get Free Report) was the target of unusually large options trading activity on Tuesday. Traders acquired 23,089 put options on the company. This is an increase of 110% compared to the typical daily volume of 11,013 put options.

Hedge Funds Weigh In On Medtronic

Institutional investors and hedge funds have recently modified their holdings of the stock. Fortitude Family Office LLC bought a new position in Medtronic in the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC bought a new stake in Medtronic in the 3rd quarter valued at $27,000. Darwin Wealth Management LLC bought a new stake in Medtronic in the 3rd quarter valued at $27,000. J. Stern & Co. LLP bought a new position in Medtronic during the 3rd quarter worth $30,000. Finally, Chelsea Counsel Co. acquired a new stake in shares of Medtronic during the third quarter worth $45,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MDT shares. Royal Bank of Canada raised Medtronic from a "sector perform" rating to an "outperform" rating and raised their price target for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Sanford C. Bernstein upped their price objective on Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. cut their target price on Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a research report on Friday, November 15th. Evercore ISI upped their price target on Medtronic from $100.00 to $104.00 and gave the company an "outperform" rating in a research report on Tuesday, October 1st. Finally, Piper Sandler lifted their price objective on Medtronic from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Medtronic has an average rating of "Hold" and a consensus target price of $95.27.

Medtronic Trading Up 0.0 %

NYSE:MDT traded up $0.02 on Tuesday, reaching $81.37. The company's stock had a trading volume of 8,015,669 shares, compared to its average volume of 6,247,099. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The firm has a market cap of $104.34 billion, a PE ratio of 25.02, a PEG ratio of 2.35 and a beta of 0.82. The business's 50-day moving average price is $87.54 and its two-hundred day moving average price is $85.04. Medtronic has a 1-year low of $75.96 and a 1-year high of $92.68.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company's quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.25 earnings per share. Equities research analysts anticipate that Medtronic will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.44%. Medtronic's dividend payout ratio is currently 85.63%.

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.