Medtronic (NYSE:MDT) Trading Up 0.4%

Medtronic plc (NYSE:MDT - Get Free Report) was up 0.4% during trading on Friday . The stock traded as high as $79.64 and last traded at $79.48. Approximately 1,222,266 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 6,242,471 shares. The stock had previously closed at $79.19.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MDT shares. Royal Bank of Canada reiterated a "sector perform" rating and issued a $92.00 price objective on shares of Medtronic in a report on Wednesday, February 21st. Mizuho increased their target price on shares of Medtronic from $95.00 to $98.00 and gave the company a "buy" rating in a research note on Wednesday, February 21st. Oppenheimer increased their target price on shares of Medtronic from $89.00 to $92.00 and gave the company a "market perform" rating in a research note on Wednesday, February 21st. Finally, Truist Financial increased their target price on shares of Medtronic from $87.00 to $90.00 and gave the company a "hold" rating in a research note on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Medtronic presently has an average rating of "Moderate Buy" and an average price target of $94.91.

Medtronic Trading Up 0.4 %

The company's 50 day simple moving average is $84.04 and its two-hundred day simple moving average is $81.00. The stock has a market cap of $105.56 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 2.71 and a beta of 0.76. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.26 by $0.04. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The company had revenue of $8.09 billion for the quarter, compared to analyst estimates of $7.95 billion. During the same quarter in the prior year, the business posted $1.30 EPS. Medtronic's quarterly revenue was up 4.7% on a year-over-year basis. Research analysts expect that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic's dividend payout ratio (DPR) is presently 87.90%.

Insider Buying and Selling at Medtronic

In other news, EVP Michael Marinaro sold 854 shares of the firm's stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the completion of the transaction, the executive vice president now directly owns 27,925 shares of the company's stock, valued at approximately $2,321,684.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the completion of the transaction, the executive vice president now directly owns 27,925 shares of the company's stock, valued at approximately $2,321,684.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sean Salmon sold 30,695 shares of Medtronic stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the transaction, the executive vice president now directly owns 48,289 shares of the company's stock, valued at $4,110,842.57. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

Institutional Investors Weigh In On Medtronic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. RBA Wealth Management LLC grew its position in shares of Medtronic by 2.2% during the 1st quarter. RBA Wealth Management LLC now owns 43,453 shares of the medical technology company's stock worth $3,787,000 after buying an additional 933 shares during the period. Legacy Wealth Asset Management LLC grew its position in shares of Medtronic by 1.8% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 17,885 shares of the medical technology company's stock worth $1,559,000 after buying an additional 313 shares during the period. Uncommon Cents Investing LLC grew its position in shares of Medtronic by 2.9% during the 1st quarter. Uncommon Cents Investing LLC now owns 30,808 shares of the medical technology company's stock worth $2,685,000 after buying an additional 879 shares during the period. First Trust Direct Indexing L.P. grew its position in shares of Medtronic by 16.4% during the 1st quarter. First Trust Direct Indexing L.P. now owns 29,410 shares of the medical technology company's stock worth $2,563,000 after buying an additional 4,133 shares during the period. Finally, Cornerstone Wealth Management LLC grew its position in shares of Medtronic by 6.0% during the 1st quarter. Cornerstone Wealth Management LLC now owns 11,643 shares of the medical technology company's stock worth $1,015,000 after buying an additional 661 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Company Profile

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.