Medtronic (NYSE:MDT) Stock Price Up 0.4%

Medtronic plc (NYSE:MDT - Get Free Report)'s share price rose 0.4% during mid-day trading on Friday . The stock traded as high as $81.86 and last traded at $81.26. Approximately 1,048,942 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 6,180,753 shares. The stock had previously closed at $80.92.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MDT shares. Truist Financial lifted their price objective on Medtronic from $87.00 to $90.00 and gave the company a "hold" rating in a report on Wednesday, February 21st. Royal Bank of Canada reiterated a "sector perform" rating and issued a $92.00 price target on shares of Medtronic in a report on Wednesday, February 21st. Mizuho raised their price objective on shares of Medtronic from $95.00 to $98.00 and gave the stock a "buy" rating in a report on Wednesday, February 21st. Finally, Oppenheimer boosted their price objective on shares of Medtronic from $89.00 to $92.00 and gave the company a "market perform" rating in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $94.91.

Medtronic Stock Performance

The stock has a market capitalization of $108.46 billion, a P/E ratio of 26.02, a PEG ratio of 2.64 and a beta of 0.78. The company's fifty day simple moving average is $83.16 and its two-hundred day simple moving average is $81.37. 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 posted its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.04. The firm had revenue of $8.09 billion for the quarter, compared to analyst estimates of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The company's revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $1.30 EPS. As a group, equities analysts forecast that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Thursday, March 21st. Medtronic's dividend payout ratio (DPR) is presently 87.90%.

Insider Activity at Medtronic

In other news, EVP Michael Marinaro sold 854 shares of the company's stock in a transaction on 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 in the company, valued at $2,321,684.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction 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 sale, the executive vice president now owns 27,925 shares in the company, valued at approximately $2,321,684.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 value of $2,613,065.35. Following the completion of the sale, the executive vice president now directly owns 48,289 shares of the company's stock, valued at approximately $4,110,842.57. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Institutional Trading of Medtronic

Hedge funds and other institutional investors have recently modified their holdings of the business. Boyar Asset Management Inc. increased its stake in shares of Medtronic by 2.6% during the fourth quarter. Boyar Asset Management Inc. now owns 4,655 shares of the medical technology company's stock worth $383,000 after buying an additional 120 shares during the period. Hall Laurie J Trustee lifted its position in shares of Medtronic by 0.3% during the 1st quarter. Hall Laurie J Trustee now owns 44,015 shares of the medical technology company's stock worth $3,835,000 after purchasing an additional 125 shares during the last quarter. Quent Capital LLC grew its stake in shares of Medtronic by 8.0% during the first quarter. Quent Capital LLC now owns 1,680 shares of the medical technology company's stock worth $146,000 after purchasing an additional 125 shares in the last quarter. Marino Stram & Associates LLC increased its holdings in Medtronic by 1.8% in the fourth quarter. Marino Stram & Associates LLC now owns 7,127 shares of the medical technology company's stock valued at $587,000 after buying an additional 126 shares during the last quarter. Finally, Angeles Investment Advisors LLC raised its stake in Medtronic by 1.0% in the fourth quarter. Angeles Investment Advisors LLC now owns 12,627 shares of the medical technology company's stock valued at $1,046,000 after buying an additional 128 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

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.

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