Medtronic (NYSE:MDT) Shares Down 0.4% – What’s Next?

Shares of Medtronic plc (NYSE:MDT) were down 0.4% on Tuesday . The stock traded as low as $92.71 and last traded at $93.38. Approximately 1,161,301 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 6,029,951 shares. The stock had previously closed at $93.80.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Robert W. Baird raised their target price on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Barclays raised their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Truist Financial dropped their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $96.07.

Medtronic Trading Down 0.3 %

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The stock has a market cap of $119.99 billion, a P/E ratio of 28.44, a P/E/G ratio of 2.22 and a beta of 0.80. The stock has a 50-day moving average price of $88.62 and a 200-day moving average price of $87.84.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. On average, equities research analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 2.99%. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Medtronic

Hedge funds and other institutional investors have recently modified their holdings of the stock. Darwin Wealth Management LLC bought a new stake in Medtronic in the third quarter valued at approximately $27,000. Mainstream Capital Management LLC bought a new stake in Medtronic during the 4th quarter valued at $26,000. J. Stern & Co. LLP purchased a new stake in Medtronic during the 3rd quarter valued at $30,000. Rakuten Securities Inc. grew its holdings in Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 294 shares during the last quarter. Finally, Wood Tarver Financial Group LLC purchased a new position in shares of Medtronic in the fourth quarter valued at about $27,000. 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.