Medtronic (NYSE:MDT) Trading Up 0.9%

Medtronic plc (NYSE:MDT)’s share price was up 0.9% during mid-day trading on Thursday . The company traded as high as $82.33 and last traded at $82.25. Approximately 743,057 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 6,101,148 shares. The stock had previously closed at $81.55.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MDT shares. Oppenheimer boosted their price objective on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. Truist Financial boosted their price objective on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Royal Bank of Canada restated a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a research note on Wednesday, February 21st. Finally, Mizuho upped their price target on Medtronic from $95.00 to $98.00 and gave the company 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 given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $94.91.

Medtronic Stock Up 1.5 %

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 company has a market cap of $109.89 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 2.66 and a beta of 0.78. The company has a fifty day moving average price of $82.97 and a 200 day moving average price of $81.69.

Medtronic (NYSE:MDT) last issued its quarterly earnings data 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. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The company had revenue of $8.09 billion during the quarter, compared to analyst estimates of $7.95 billion. During the same quarter in the previous year, the firm earned $1.30 earnings per share. Medtronic’s revenue was up 4.7% on a year-over-year basis. As a group, analysts anticipate that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 3.33%. The ex-dividend date was Thursday, March 21st. Medtronic’s dividend payout ratio is currently 87.90%.

Insiders Place Their Bets

In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the company’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 completion of the sale, the executive vice president now 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 can be accessed through this link. In other news, EVP Sean Salmon sold 30,695 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the completion of the sale, the executive vice president now owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Michael Marinaro sold 854 shares of the 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 sale, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Institutional Trading of Medtronic

A number of institutional investors have recently made changes to their positions in the stock. ProVise Management Group LLC boosted its stake in shares of Medtronic by 89.0% during the first quarter. ProVise Management Group LLC now owns 104,337 shares of the medical technology company’s stock valued at $9,093,000 after purchasing an additional 49,123 shares during the period. Orion Portfolio Solutions LLC boosted its stake in shares of Medtronic by 13.8% during the first quarter. Orion Portfolio Solutions LLC now owns 69,034 shares of the medical technology company’s stock valued at $6,016,000 after purchasing an additional 8,352 shares during the period. Blair William & Co. IL raised its holdings in shares of Medtronic by 6.5% during the first quarter. Blair William & Co. IL now owns 139,827 shares of the medical technology company’s stock valued at $12,186,000 after acquiring an additional 8,513 shares in the last quarter. Wilkins Investment Counsel Inc. raised its holdings in shares of Medtronic by 48.8% during the first quarter. Wilkins Investment Counsel Inc. now owns 195,803 shares of the medical technology company’s stock valued at $17,064,000 after acquiring an additional 64,173 shares in the last quarter. Finally, Managed Asset Portfolios LLC raised its holdings in shares of Medtronic by 0.9% during the first quarter. Managed Asset Portfolios LLC now owns 247,526 shares of the medical technology company’s stock valued at $21,572,000 after acquiring an additional 2,320 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

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.