Medtronic (NYSE:MDT) Trading Up 1.4%

Shares of Medtronic plc (NYSE:MDT - Get Free Report) rose 1.4% during trading on Monday . The stock traded as high as $80.97 and last traded at $80.86. Approximately 1,131,054 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 6,184,661 shares. The stock had previously closed at $79.74.

Wall Street Analyst Weigh In

MDT has been the subject of several analyst reports. Royal Bank of Canada reiterated a "sector perform" rating and issued a $92.00 target price on shares of Medtronic in a report on Wednesday, February 21st. 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 report 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 report on Wednesday, February 21st. Finally, Mizuho increased their target price on shares of Medtronic from $95.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Medtronic has an average rating of "Hold" and an average price target of $94.91.

Medtronic Price Performance

The business's fifty day moving average is $83.46 and its 200-day moving average is $81.32. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. The firm has a market cap of $107.37 billion, a PE ratio of 25.75, a P/E/G ratio of 2.73 and a beta of 0.76.

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

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were paid a $0.69 dividend. The ex-dividend date was Thursday, March 21st. This represents a $2.76 annualized dividend and a dividend yield of 3.41%. Medtronic's payout ratio is 87.90%.

Insider Transactions at Medtronic

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

Hedge Funds Weigh In On Medtronic

A number of large investors have recently modified their holdings of MDT. Norges Bank bought a new position in shares of Medtronic in the fourth quarter valued at approximately $1,229,726,000. First Eagle Investment Management LLC boosted its position in shares of Medtronic by 54.5% in the fourth quarter. First Eagle Investment Management LLC now owns 9,409,680 shares of the medical technology company's stock valued at $775,169,000 after acquiring an additional 3,320,800 shares during the period. Pzena Investment Management LLC boosted its position in shares of Medtronic by 112.8% in the third quarter. Pzena Investment Management LLC now owns 5,730,577 shares of the medical technology company's stock valued at $449,048,000 after acquiring an additional 3,037,394 shares during the period. Morgan Stanley boosted its position in shares of Medtronic by 9.2% in the third quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company's stock valued at $1,863,229,000 after acquiring an additional 1,994,123 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Medtronic by 145.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,372,641 shares of the medical technology company's stock valued at $195,431,000 after acquiring an additional 1,405,978 shares during the period. 82.06% of the stock is currently owned by institutional investors.

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.