Medtronic plc (NYSE:MDT - Get Free Report) rose 0% during trading on Monday . The company traded as high as $81.08 and last traded at $80.99. Approximately 1,873,621 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 4,232,257 shares. The stock had previously closed at $80.95.
Analyst Upgrades and Downgrades
MDT has been the subject of a number of research reports. Sanford C. Bernstein raised their target price on shares of Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. reduced their price objective on Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a research note on Friday, November 15th. Evercore ISI boosted their target price on Medtronic from $100.00 to $104.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 1st. Barclays upped their target price on Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. Finally, Royal Bank of Canada raised Medtronic from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have assigned 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.com, Medtronic has an average rating of "Hold" and a consensus target price of $95.00.
View Our Latest Research Report on Medtronic
Medtronic Trading Down 1.5 %
The business's 50-day simple moving average is $84.67 and its 200-day simple moving average is $84.93. The company has a market cap of $102.29 billion, a PE ratio of 24.39, a P/E/G ratio of 2.33 and a beta of 0.83. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51.
Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (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 firm had revenue of $8.40 billion during the quarter, compared to analysts' expectations of $8.27 billion. During the same quarter last year, the firm earned $1.25 earnings per share. The business's revenue for the quarter was up 5.2% on a year-over-year basis. As a group, analysts expect that Medtronic plc will post 5.45 EPS for the current fiscal year.
Medtronic Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.51%. The ex-dividend date is Friday, December 27th. Medtronic's payout ratio is presently 85.63%.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the business. Fortitude Family Office LLC bought a new stake in Medtronic in the third quarter worth $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic in the third quarter worth about $27,000. Darwin Wealth Management LLC acquired a new position in shares of Medtronic during the 3rd quarter valued at about $27,000. J. Stern & Co. LLP acquired a new position in shares of Medtronic during the 3rd quarter valued at about $30,000. Finally, Chelsea Counsel Co. bought a new position in shares of Medtronic in the 3rd quarter valued at approximately $45,000. Institutional investors and hedge funds 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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