Medtronic (NYSE:MDT) Stock Price Up 0.3%

Shares of Medtronic plc (NYSE:MDT) shot up 0.3% during mid-day trading on Tuesday . The company traded as high as $82.28 and last traded at $82.02. 1,217,634 shares changed hands during trading, a decline of 80% from the average session volume of 6,140,836 shares. The stock had previously closed at $81.76.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MDT. Oppenheimer boosted their price target on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 21st. Truist Financial lifted their target price on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research report on Wednesday, February 21st. Finally, Mizuho boosted their price target on 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 given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and a consensus target price of $94.91.

Medtronic Trading Up 0.2 %

The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average of $83.05 and a two-hundred day moving average of $81.63. The firm has a market cap of $108.75 billion, a P/E ratio of 26.12, a PEG ratio of 2.66 and a beta of 0.78.

Medtronic (NYSE:MDT) last announced its earnings results 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 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 the consensus estimate of $7.95 billion. During the same quarter in the previous year, the firm posted $1.30 EPS. Medtronic’s revenue was up 4.7% compared to the same quarter last year. Analysts predict that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were paid a dividend of $0.69 per share. The ex-dividend date was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.37%. Medtronic’s dividend payout ratio (DPR) is currently 87.90%.

Insider Buying and Selling

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

Institutional Trading of Medtronic

Several large investors have recently modified their holdings of MDT. WealthPLAN Partners LLC bought a new stake in Medtronic during the first quarter worth about $811,000. 49 Wealth Management LLC raised its position in shares of Medtronic by 3.1% in the 1st quarter. 49 Wealth Management LLC now owns 5,309 shares of the medical technology company’s stock valued at $462,000 after buying an additional 160 shares in the last quarter. Tectonic Advisors LLC boosted its position in shares of Medtronic by 1.8% during the 1st quarter. Tectonic Advisors LLC now owns 17,850 shares of the medical technology company’s stock worth $1,556,000 after acquiring an additional 324 shares in the last quarter. NTV Asset Management LLC increased its stake in Medtronic by 1.3% in the first quarter. NTV Asset Management LLC now owns 15,652 shares of the medical technology company’s stock valued at $1,364,000 after acquiring an additional 207 shares during the last quarter. Finally, Forsta AP Fonden increased its stake in Medtronic by 9.9% in the first quarter. Forsta AP Fonden now owns 296,200 shares of the medical technology company’s stock valued at $25,814,000 after acquiring an additional 26,800 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

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.