Medtronic (NYSE:MDT) Shares Up 1.4% – Should You Buy?

Shares of Medtronic plc (NYSE:MDTGet Free Report) traded up 1.4% during trading on Monday . The company traded as high as $91.65 and last traded at $91.44. 2,111,220 shares were traded during trading, a decline of 72% from the average session volume of 7,619,816 shares. The stock had previously closed at $90.19.

Analyst Ratings Changes

Several equities analysts have weighed in on MDT shares. Citigroup boosted their target price on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Barclays lifted their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. cut their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Finally, Truist Financial lowered their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Medtronic presently has a consensus rating of “Hold” and a consensus price target of $95.00.

View Our Latest Report on Medtronic

Medtronic Trading Down 0.5 %

The stock has a market capitalization of $117.34 billion, a PE ratio of 27.98, a PEG ratio of 2.49 and a beta of 0.83. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The business’s 50-day moving average is $83.99 and its two-hundred day moving average is $85.83.

Medtronic (NYSE:MDTGet Free Report) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $1.25 earnings per share. On average, analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MDT. Fortitude Family Office LLC purchased a new position in shares of Medtronic in the 3rd quarter valued at about $27,000. Darwin Wealth Management LLC purchased a new position in Medtronic in the third quarter valued at about $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic during the 3rd quarter valued at approximately $27,000. J. Stern & Co. LLP acquired a new stake in shares of Medtronic during the 3rd quarter valued at approximately $30,000. Finally, Stephens Consulting LLC boosted its stake in shares of Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 204 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

About Medtronic

(Get Free Report)

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.

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