Medtronic (NYSE:MDT) Shares Down 0.4%

Shares of Medtronic plc (NYSE:MDT - Get Free Report) fell 0.4% during mid-day trading on Friday . The company traded as low as $85.10 and last traded at $85.28. 1,432,814 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 6,044,432 shares. The stock had previously closed at $85.64.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MDT shares. Mizuho boosted their price objective on Medtronic from $95.00 to $98.00 and gave the company a "buy" rating in a research 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. Oppenheimer lifted their target price on Medtronic from $89.00 to $92.00 and gave the stock a "market perform" rating in a report on Wednesday, February 21st. Finally, Truist Financial increased their price target on Medtronic from $87.00 to $90.00 and gave the company a "hold" rating in a research note on Wednesday, February 21st. One 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. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $94.91.

Medtronic Trading Up 0.3 %

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 fifty day moving average of $82.90 and a 200-day moving average of $82.15. The company has a market cap of $114.09 billion, a PE ratio of 27.29, a PEG ratio of 2.76 and a beta of 0.78.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results 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 analysts' expectations of $7.95 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The business's revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.30 earnings per share. Sell-side analysts anticipate that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were issued a dividend of $0.69 per share. The ex-dividend date was Thursday, March 21st. This represents a $2.76 annualized dividend and a yield of 3.21%. Medtronic's payout ratio is currently 87.90%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now owns 48,289 shares of the company's stock, valued at approximately $4,110,842.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Michael Marinaro sold 854 shares of the firm's stock in a transaction dated Monday, April 8th. The stock was 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 of the company's stock, valued at $2,321,684.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sean Salmon sold 30,695 shares of the stock in a transaction dated 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 sale, 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. 0.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Medtronic

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new position in Medtronic during the 4th quarter valued at approximately $25,000. Leith Wheeler Investment Counsel Ltd. increased its position in shares of 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 acquiring an additional 236,064 shares during the period. MeadowBrook Investment Advisors LLC purchased a new position in Medtronic in the 4th quarter worth $27,000. LifeSteps Financial Inc. purchased a new stake in Medtronic during the 1st quarter valued at about $27,000. Finally, Financial Gravity Asset Management Inc. increased its holdings 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 valued at $29,000 after purchasing an additional 279 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.

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.