Medtronic (NYSE:MDT) Trading Up 1%

Medtronic plc (NYSE:MDT - Get Free Report) traded up 1% during mid-day trading on Monday . The company traded as high as $83.84 and last traded at $83.69. 1,038,070 shares traded hands during trading, a decline of 83% from the average session volume of 6,076,187 shares. The stock had previously closed at $82.84.

Wall Street Analyst Weigh In

MDT has been the topic of a number of recent analyst reports. 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. Truist Financial upped their target price on shares of Medtronic from $87.00 to $90.00 and gave the company 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 company a "market perform" rating in a research note on Wednesday, February 21st. Finally, Mizuho increased their price objective on shares of Medtronic from $95.00 to $98.00 and gave the stock a "buy" rating in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $94.91.

Medtronic Stock Performance

The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30. The stock has a market capitalization of $110.90 billion, a PE ratio of 26.66, a P/E/G ratio of 2.70 and a beta of 0.78. The firm's 50 day moving average is $82.94 and its two-hundred day moving average is $81.91.

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 for the quarter, topping analysts' consensus estimates of $1.26 by $0.04. The business 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 in the prior year, the company earned $1.30 earnings per share. As a group, research analysts predict that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic's dividend payout ratio is presently 87.90%.

Insider Buying and Selling

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 transaction of $71,001.56. Following the completion of the sale, 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 filing with the SEC, which is available through the SEC website. In related news, EVP Michael Marinaro sold 854 shares of the business's stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the completion of the sale, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Sean Salmon sold 30,695 shares of the company'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 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

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Fortitude Family Office LLC purchased a new stake in shares of Medtronic in the 4th quarter valued at about $25,000. Leith Wheeler Investment Counsel Ltd. boosted its holdings in shares of Medtronic by 293.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company's stock valued at $26,000 after acquiring an additional 236,064 shares during the period. MeadowBrook Investment Advisors LLC purchased a new position in shares of Medtronic during the fourth quarter worth approximately $27,000. LifeSteps Financial Inc. acquired a new position in shares of Medtronic in the 1st quarter valued at $27,000. Finally, Financial Gravity Asset Management Inc. raised its position in Medtronic by 317.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company's stock valued at $29,000 after purchasing an additional 279 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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.

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