Medtronic (NYSE:MDT) Trading 0.2% Higher – What’s Next?

Medtronic plc (NYSE:MDT) was up 0.2% during trading on Tuesday . The company traded as high as $93.08 and last traded at $92.62. Approximately 1,702,961 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 7,680,333 shares. The stock had previously closed at $92.46.

Analyst Ratings Changes

Several analysts have commented on MDT shares. Robert W. Baird decreased their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Wells Fargo & Company lowered their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Barclays increased their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Medtronic presently has an average rating of “Hold” and an average price target of $95.00.

Medtronic Stock Performance

The company has a market cap of $118.13 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 2.49 and a beta of 0.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The firm has a 50 day simple moving average of $83.85 and a 200-day simple moving average of $85.73.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period last year, the business earned $1.25 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, analysts predict that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is 85.63%.

Insider Buying and Selling at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Medtronic

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. HTLF Bank lifted its position in shares of Medtronic by 0.3% during the 4th quarter. HTLF Bank now owns 59,009 shares of the medical technology company’s stock worth $4,714,000 after purchasing an additional 173 shares during the last quarter. Tevis Investment Management lifted its stake in Medtronic by 1.3% during the fourth quarter. Tevis Investment Management now owns 42,304 shares of the medical technology company’s stock worth $3,409,000 after purchasing an additional 556 shares during the last quarter. Kestra Private Wealth Services LLC boosted its holdings in Medtronic by 6.1% in the fourth quarter. Kestra Private Wealth Services LLC now owns 103,281 shares of the medical technology company’s stock valued at $8,250,000 after purchasing an additional 5,942 shares in the last quarter. Stockman Wealth Management Inc. increased its stake in Medtronic by 4.5% in the fourth quarter. Stockman Wealth Management Inc. now owns 106,005 shares of the medical technology company’s stock valued at $8,468,000 after purchasing an additional 4,542 shares during the last quarter. Finally, Robinson Value Management Ltd. raised its stake in Medtronic by 1.2% during the 4th quarter. Robinson Value Management Ltd. now owns 54,708 shares of the medical technology company’s stock worth $4,370,000 after acquiring an additional 657 shares in the last quarter. 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.