Medtronic (NYSE:MDT) Shares Up 0.9%

Medtronic plc (NYSE:MDT - Get Free Report) shares traded up 0.9% during mid-day trading on Tuesday . The company traded as high as $84.61 and last traded at $84.27. 882,279 shares were traded during trading, a decline of 85% from the average session volume of 6,062,048 shares. The stock had previously closed at $83.52.

Analyst Upgrades and Downgrades

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

Medtronic Trading Up 0.9 %

The business's 50-day simple moving average is $82.91 and its two-hundred day simple moving average is $82.00. 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 stock has a market capitalization of $111.92 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 2.70 and a beta of 0.78.

Medtronic (NYSE:MDT - Get Free Report) last released 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. The business had revenue of $8.09 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.30 earnings per share. On average, research analysts anticipate that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were issued a $0.69 dividend. The ex-dividend date was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.27%. Medtronic's payout ratio is currently 87.90%.

Insiders Place Their Bets

In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the business's stock in a transaction dated 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 transaction, the executive vice president now owns 48,289 shares in the company, valued at $4,110,842.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Medtronic 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 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 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 sale, the executive vice president now owns 48,289 shares in the company, 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.

Institutional Investors Weigh In On Medtronic

Several hedge funds and other institutional investors have recently made changes to their positions in MDT. Fortitude Family Office LLC acquired a new stake in Medtronic during the 4th quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. increased its holdings in Medtronic by 293.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company's stock valued at $26,000 after buying an additional 236,064 shares during the period. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Medtronic in the 4th quarter valued at $27,000. LifeSteps Financial Inc. bought a new position in Medtronic in the first quarter valued at about $27,000. Finally, Financial Gravity Asset Management Inc. increased its position in Medtronic by 317.0% during the 3rd 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 in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

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.