Medtronic (NYSE:MDT) Trading Up 0.1%

Medtronic plc (NYSE:MDT) traded up 0.1% on Thursday . The company traded as high as $81.73 and last traded at $81.00. 1,479,815 shares changed hands during trading, a decline of 76% from the average session volume of 6,181,074 shares. The stock had previously closed at $80.89.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Truist Financial upped their price objective on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. Mizuho upped their target price on 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 target price on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $92.00 target price on shares of Medtronic in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $94.91.

Medtronic Stock Performance

The stock has a market capitalization of $107.67 billion, a price-to-earnings ratio of 25.80, a price-to-earnings-growth ratio of 2.75 and a beta of 0.78. The firm has a fifty day moving average of $83.25 and a 200 day moving average of $81.37. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. The company had revenue of $8.09 billion for the quarter, compared to the consensus estimate of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. Medtronic’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.30 earnings per share. On average, sell-side analysts anticipate that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were given a $0.69 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 annualized dividend and a dividend yield of 3.40%. Medtronic’s dividend payout ratio (DPR) is presently 87.90%.

Insider Activity

In other news, EVP Sean Salmon sold 30,695 shares of the firm’s stock in a transaction that occurred 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 owns 48,289 shares in the company, valued at $4,110,842.57. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Sean Salmon sold 30,695 shares of Medtronic stock in a transaction that occurred on Wednesday, February 21st. The stock was 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 $4,110,842.57. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares in the company, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Medtronic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley grew its stake in shares of Medtronic by 9.2% in the third quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock valued at $1,863,229,000 after buying an additional 1,994,123 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Medtronic by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 21,817,063 shares of the medical technology company’s stock valued at $1,901,357,000 after buying an additional 727,931 shares in the last quarter. Norges Bank acquired a new stake in shares of Medtronic in the fourth quarter valued at $1,229,726,000. Northern Trust Corp grew its stake in shares of Medtronic by 2.1% in the third quarter. Northern Trust Corp now owns 13,622,933 shares of the medical technology company’s stock valued at $1,067,493,000 after buying an additional 285,819 shares in the last quarter. Finally, Sanders Capital LLC grew its stake in shares of Medtronic by 2.8% in the fourth quarter. Sanders Capital LLC now owns 12,634,161 shares of the medical technology company’s stock valued at $1,040,802,000 after buying an additional 346,641 shares in the last quarter. Institutional investors and hedge funds 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.