Medtronic plc (NYSE:MDT - Get Free Report)'s share price was up 1.4% on Monday . The company traded as high as $91.65 and last traded at $91.44. Approximately 2,111,220 shares traded hands during trading, a decline of 72% from the average daily volume of 7,619,816 shares. The stock had previously closed at $90.19.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the company. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Monday, November 18th. Evercore ISI boosted their target price on shares of Medtronic from $100.00 to $104.00 and gave the stock an "outperform" rating in a report on Tuesday, October 1st. Sanford C. Bernstein lifted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 20th. Wells Fargo & Company decreased their target price on shares of Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a research report on Wednesday, November 20th. Finally, Truist Financial reduced their price target on Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $95.00.
Check Out Our Latest Analysis on Medtronic
Medtronic Price Performance
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 market capitalization of $118.54 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 2.49 and a beta of 0.83. The stock's 50-day simple moving average is $83.75 and its two-hundred day simple moving average is $85.62.
Medtronic (NYSE:MDT - Get Free Report) last announced its 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. 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 quarter in the prior year, the firm earned $1.25 earnings per share. The business's revenue was up 5.2% compared to the same quarter last year. Equities research analysts predict that Medtronic plc will post 5.45 earnings per share for the current year.
Medtronic Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.03%. Medtronic's dividend payout ratio (DPR) is 85.63%.
Insider Transactions at Medtronic
In related news, EVP Brett A. Wall sold 12,437 shares of the business'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 sale, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $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 accessible through this link. Insiders own 0.20% of the company's stock.
Institutional Investors Weigh In On Medtronic
Institutional investors and hedge funds have recently made changes to their positions in the stock. Fortitude Family Office LLC acquired a new position in shares of Medtronic in the 3rd quarter valued at $27,000. Highline Wealth Partners LLC acquired a new position in Medtronic in the third quarter valued at $27,000. Darwin Wealth Management LLC purchased a new position in shares of Medtronic during the third quarter worth about $27,000. Stephens Consulting LLC increased its position in shares of Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after purchasing an additional 204 shares in the last quarter. Finally, J. Stern & Co. LLP purchased a new stake in shares of Medtronic in the 3rd quarter valued at about $30,000. 82.06% of the stock is 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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