Medtronic (NYSE:MDT) Stock Price Up 0.3%

Medtronic plc (NYSE:MDT - Get Free Report) shares traded up 0.3% on Tuesday . The stock traded as high as $82.28 and last traded at $82.02. 1,217,634 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 6,140,836 shares. The stock had previously closed at $81.76.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Truist Financial increased their price target on shares of Medtronic from $87.00 to $90.00 and gave the stock a "hold" rating in a research report on Wednesday, February 21st. Oppenheimer boosted their price target on shares of Medtronic from $89.00 to $92.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 21st. Mizuho boosted their price target on shares of Medtronic from $95.00 to $98.00 and gave the stock a "buy" rating in a research note on Wednesday, February 21st. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $92.00 target price on shares of Medtronic 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 issued a buy rating to the company's stock. According to data from MarketBeat, Medtronic has a consensus rating of "Hold" and an average price target of $94.91.

Medtronic Price Performance

The company has a market capitalization of $108.72 billion, a P/E ratio of 26.08, a P/E/G ratio of 2.66 and a beta of 0.78. The firm's fifty day moving average is $83.01 and its 200 day moving average is $81.69. 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 issued its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.26 by $0.04. The company had revenue of $8.09 billion for the quarter, compared to the consensus estimate of $7.95 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The firm's revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.30 EPS. As a group, analysts predict that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were paid a $0.69 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a yield of 3.37%. Medtronic's dividend payout ratio is currently 87.90%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Medtronic

Several institutional investors and hedge funds have recently bought and sold shares of MDT. Fortitude Family Office LLC purchased a new position in shares of Medtronic in the fourth quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. lifted its position in Medtronic by 293.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company's stock worth $26,000 after acquiring an additional 236,064 shares during the period. MeadowBrook Investment Advisors LLC purchased a new stake in Medtronic during the 4th quarter valued at about $27,000. LifeSteps Financial Inc. acquired a new position in shares of Medtronic in the first quarter valued at about $27,000. Finally, Financial Gravity Asset Management Inc. raised its stake in shares of Medtronic by 317.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company's stock worth $29,000 after purchasing an additional 279 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other 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.