Medtronic (NYSE:MDT) Shares Up 0.4%

Medtronic plc (NYSE:MDT) was up 0.4% during mid-day trading on Friday . The stock traded as high as $79.64 and last traded at $79.48. Approximately 1,222,266 shares were traded during trading, a decline of 80% from the average daily volume of 6,242,471 shares. The stock had previously closed at $79.19.

Analysts Set New Price Targets

A number of brokerages have recently commented on MDT. Mizuho lifted their price objective on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Oppenheimer upped 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a research 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 equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and an average price target of $94.91.

Medtronic Stock Performance

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 stock’s 50-day moving average price is $84.04 and its 200-day moving average price is $81.00. The company has a market cap of $105.43 billion, a P/E ratio of 25.31, a PEG ratio of 2.71 and a beta of 0.76.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, topping the consensus estimate 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 quarter in the previous year, the company earned $1.30 EPS. The business’s revenue was up 4.7% on a year-over-year basis. Equities analysts anticipate that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were issued a $0.69 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 annualized dividend and a yield of 3.48%. Medtronic’s dividend payout ratio is presently 87.90%.

Insider Transactions at Medtronic

In related news, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was 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 owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Medtronic news, 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 transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Sean Salmon sold 30,695 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were 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 directly owns 48,289 shares in the company, valued at approximately $4,110,842.57. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MDT. IVC Wealth Advisors LLC boosted its stake in shares of Medtronic by 10.4% in the 1st quarter. IVC Wealth Advisors LLC now owns 6,270 shares of the medical technology company’s stock valued at $546,000 after purchasing an additional 592 shares in the last quarter. BluePath Capital Management LLC lifted its stake in Medtronic by 22.1% in the 1st quarter. BluePath Capital Management LLC now owns 4,880 shares of the medical technology company’s stock valued at $425,000 after purchasing an additional 884 shares during the last quarter. KFG Wealth Management LLC boosted its position in Medtronic by 8.1% in the first quarter. KFG Wealth Management LLC now owns 3,218 shares of the medical technology company’s stock valued at $280,000 after buying an additional 241 shares in the last quarter. Albion Financial Group UT grew its stake in shares of Medtronic by 10.1% during the first quarter. Albion Financial Group UT now owns 20,558 shares of the medical technology company’s stock worth $1,792,000 after buying an additional 1,887 shares during the last quarter. Finally, Valeo Financial Advisors LLC increased its holdings in shares of Medtronic by 5.8% during the first quarter. Valeo Financial Advisors LLC now owns 22,316 shares of the medical technology company’s stock worth $1,945,000 after buying an additional 1,233 shares in the last quarter. 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.