Medtronic (NYSE:MDT) Shares Down 0.9% – What’s Next?

Medtronic plc (NYSE:MDT) shares fell 0.9% on Friday . The stock traded as low as $89.63 and last traded at $90.37. 2,365,229 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 6,065,762 shares. The stock had previously closed at $91.22.

Analyst Ratings Changes

MDT has been the topic of several research reports. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. UBS Group upped their price objective on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Robert W. Baird lifted their target price on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Barclays upped their price target on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $96.07.

Medtronic Trading Down 0.8 %

The stock has a 50-day moving average of $90.47 and a 200 day moving average of $88.06. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The stock has a market cap of $116.11 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. As a group, sell-side analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $0.70 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.09%. Medtronic’s payout ratio is 85.11%.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

Institutional Trading of Medtronic

Several institutional investors have recently bought and sold shares of the business. Mainstream Capital Management LLC acquired a new stake in Medtronic in the 4th quarter valued at $26,000. Darwin Wealth Management LLC purchased a new stake in shares of Medtronic during the third quarter worth about $27,000. Stephens Consulting LLC increased its stake in shares of Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 204 shares in the last quarter. Rakuten Securities Inc. lifted its stake in Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after buying an additional 294 shares in the last quarter. Finally, Wood Tarver Financial Group LLC acquired a new stake in Medtronic in the 4th quarter worth about $27,000. 82.06% of the stock is owned by institutional investors and hedge funds.

About Medtronic

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.