Medtronic (NYSE:MDT) Shares Down 1.1%

Medtronic plc (NYSE:MDT)’s stock price traded down 1.1% during trading on Monday . The company traded as low as $84.74 and last traded at $85.00. 1,456,705 shares were traded during trading, a decline of 76% from the average session volume of 6,065,222 shares. The stock had previously closed at $85.92.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. 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. Truist Financial increased 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. 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 research report on Wednesday, February 21st. Finally, Mizuho increased their price target on shares of Medtronic from $95.00 to $98.00 and gave the stock 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 issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $94.91.

Medtronic Stock Up 0.7 %

The company has a market capitalization of $113.87 billion, a PE ratio of 27.26, a PEG ratio of 2.75 and a beta of 0.78. The company’s 50 day moving average is $82.88 and its two-hundred day moving average is $82.60. The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46.

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 analysts’ consensus estimates of $1.26 by $0.04. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The business had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $7.95 billion. During the same period last year, the company posted $1.30 EPS. The business’s revenue was up 4.7% on a year-over-year basis. On average, analysts anticipate that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were issued a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 annualized dividend and a yield of 3.22%. Medtronic’s payout ratio is 87.90%.

Insider Activity at Medtronic

In other news, EVP Michael Marinaro sold 854 shares of the company’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 sale, the executive vice president now owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Medtronic

A number of hedge funds and other institutional investors have recently bought and sold shares of MDT. Equity Investment Corp increased its stake in Medtronic by 27.9% during the 4th quarter. Equity Investment Corp now owns 1,341,079 shares of the medical technology company’s stock valued at $110,478,000 after purchasing an additional 292,459 shares in the last quarter. Loudon Investment Management LLC increased its stake in Medtronic by 9.5% during the 4th quarter. Loudon Investment Management LLC now owns 10,026 shares of the medical technology company’s stock valued at $786,000 after purchasing an additional 874 shares in the last quarter. BKM Wealth Management LLC acquired a new position in Medtronic during the 4th quarter valued at approximately $941,000. International Assets Investment Management LLC increased its stake in Medtronic by 8,340.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company’s stock valued at $85,558,000 after purchasing an additional 1,026,274 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Medtronic by 69.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 40,476 shares of the medical technology company’s stock valued at $3,172,000 after purchasing an additional 16,574 shares in the last quarter. 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.