Medtronic PLC (NYSE:MDT) Director Richard H. Anderson purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average price of $111.13 per share, for a total transaction of $555,650.00.
Shares of Medtronic stock traded down $1.96 on Monday, hitting $111.13. The company had a trading volume of 3,403,381 shares, compared to its average volume of 5,047,726. The firm has a market capitalization of $151.58 billion, a P/E ratio of 21.29, a P/E/G ratio of 2.74 and a beta of 0.60. Medtronic PLC has a twelve month low of $81.66 and a twelve month high of $114.46. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.77 and a quick ratio of 2.28. The stock has a 50-day moving average of $109.39 and a 200-day moving average of $104.20.
Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.03. The business had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.66 billion. Medtronic had a net margin of 15.11% and a return on equity of 14.52%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the business posted $1.22 earnings per share. Equities analysts predict that Medtronic PLC will post 5.6 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Thursday, December 26th. Medtronic’s dividend payout ratio (DPR) is presently 41.38%.
A number of brokerages recently issued reports on MDT. Stifel Nicolaus boosted their price objective on shares of Medtronic from $95.00 to $112.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. UBS Group upped their target price on shares of Medtronic from $112.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. BMO Capital Markets increased their target price on shares of Medtronic from $107.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, August 21st. BTIG Research lifted their price target on shares of Medtronic to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Deutsche Bank boosted their price target on shares of Medtronic from $118.00 to $123.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Medtronic has a consensus rating of “Buy” and a consensus target price of $117.35.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Resources Management Corp CT ADV bought a new position in shares of Medtronic during the 3rd quarter worth approximately $645,000. Princeton Global Asset Management LLC lifted its position in shares of Medtronic by 9.0% in the third quarter. Princeton Global Asset Management LLC now owns 14,123 shares of the medical technology company’s stock worth $1,529,000 after purchasing an additional 1,171 shares in the last quarter. Prestige Wealth Management Group LLC boosted its holdings in Medtronic by 14.8% during the third quarter. Prestige Wealth Management Group LLC now owns 3,133 shares of the medical technology company’s stock worth $340,000 after purchasing an additional 404 shares during the last quarter. Sandler Capital Management acquired a new position in Medtronic during the third quarter worth $6,191,000. Finally, Voloridge Investment Management LLC grew its position in Medtronic by 311.5% in the third quarter. Voloridge Investment Management LLC now owns 155,930 shares of the medical technology company’s stock valued at $16,937,000 after purchasing an additional 118,039 shares in the last quarter. 80.59% of the stock is currently owned by hedge funds and other institutional investors.
Medtronic Company Profile
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
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