Medtronic (NYSE:MDT) Stock Price Down 0.3%

Medtronic plc (NYSE:MDT) shares were down 0.3% during trading on Tuesday . The stock traded as low as $79.76 and last traded at $80.65. Approximately 1,020,355 shares were traded during trading, a decline of 84% from the average daily volume of 6,184,078 shares. The stock had previously closed at $80.86.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MDT shares. Truist Financial boosted their price objective 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. Mizuho upped their price target on shares of Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Royal Bank of Canada reiterated a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a report on Wednesday, February 21st. Finally, Oppenheimer upped 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 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $94.91.

Medtronic Stock Up 0.0 %

The firm has a market capitalization of $107.45 billion, a price-to-earnings ratio of 25.77, a P/E/G ratio of 2.75 and a beta of 0.78. The stock has a fifty day moving average of $83.25 and a two-hundred day moving average of $81.37. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. The business had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. Medtronic’s quarterly revenue 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 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

Insider Activity at Medtronic

In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Medtronic

A number of institutional investors have recently modified their holdings of MDT. Robeco Institutional Asset Management B.V. raised its position in shares of Medtronic by 78.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 271,417 shares of the medical technology company’s stock worth $21,268,000 after purchasing an additional 119,258 shares during the period. Dakota Wealth Management raised its position in shares of Medtronic by 12.1% during the third quarter. Dakota Wealth Management now owns 15,344 shares of the medical technology company’s stock worth $1,202,000 after purchasing an additional 1,661 shares during the period. Simon Quick Advisors LLC raised its position in shares of Medtronic by 17.2% during the third quarter. Simon Quick Advisors LLC now owns 3,326 shares of the medical technology company’s stock worth $261,000 after purchasing an additional 489 shares during the period. Foster & Motley Inc. raised its position in Medtronic by 4.1% in the 3rd quarter. Foster & Motley Inc. now owns 8,710 shares of the medical technology company’s stock valued at $683,000 after buying an additional 343 shares during the last quarter. Finally, Stratos Wealth Partners LTD. raised its position in Medtronic by 5.5% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 63,647 shares of the medical technology company’s stock valued at $4,987,000 after buying an additional 3,316 shares during 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.