Shares of Medtronic plc (NYSE:MDT - Get Free Report) were down 0.7% during trading on Monday . The company traded as low as $80.44 and last traded at $80.46. Approximately 1,039,900 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 6,250,425 shares. The stock had previously closed at $81.03.
Wall Street Analyst Weigh In
MDT has been the topic of a number of research analyst reports. Evercore ISI increased their price objective on shares of Medtronic from $100.00 to $104.00 and gave the company an "outperform" rating in a research report on Tuesday, October 1st. Citigroup increased their price target on Medtronic from $85.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, October 1st. Barclays lifted their price objective on Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a report on Tuesday, November 26th. Royal Bank of Canada upgraded 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 research report on Thursday, October 10th. Finally, Truist Financial dropped their target price 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 analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $95.00.
Read Our Latest Research Report on MDT
Medtronic Trading Up 0.5 %
The stock has a market capitalization of $104.38 billion, a PE ratio of 24.89, a PEG ratio of 2.33 and a beta of 0.82. The stock's 50 day moving average price is $86.90 and its 200-day moving average price is $84.99. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51.
Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $8.27 billion. During the same quarter in the prior year, the business posted $1.25 EPS. Medtronic's revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts expect that Medtronic plc will post 5.45 earnings per share for the current fiscal year.
Medtronic Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be issued a $0.70 dividend. The ex-dividend date is Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.44%. Medtronic's dividend payout ratio is presently 85.63%.
Hedge Funds Weigh In On Medtronic
A number of hedge funds and other institutional investors have recently modified their holdings of MDT. Callan Family Office LLC bought a new stake in Medtronic in the 2nd quarter worth approximately $229,000. Allspring Global Investments Holdings LLC raised its stake in Medtronic by 3.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 917,920 shares of the medical technology company's stock valued at $72,250,000 after purchasing an additional 30,310 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new position in Medtronic during the second quarter valued at $337,000. AustralianSuper Pty Ltd grew its stake in shares of Medtronic by 4.6% in the 2nd quarter. AustralianSuper Pty Ltd now owns 74,952 shares of the medical technology company's stock worth $5,899,000 after buying an additional 3,307 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Medtronic by 14.1% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 21,199 shares of the medical technology company's stock worth $1,669,000 after buying an additional 2,624 shares during the last quarter. Institutional investors own 82.06% of the company's stock.
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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