Several other equities research analysts also recently issued reports on the stock. Argus upgraded shares of Medtronic from a hold rating to a buy rating and raised their price objective for the stock from $81.27 to $95.00 in a research note on Tuesday, December 12th. They noted that the move was a valuation call. BMO Capital Markets lifted their price target on shares of Medtronic to $94.00 and gave the stock an outperform rating in a research note on Tuesday, December 12th. Jefferies Group reiterated a buy rating and set a $99.00 price target on shares of Medtronic in a research note on Thursday, November 23rd. Zacks Investment Research upgraded shares of Medtronic from a sell rating to a hold rating in a research note on Thursday, November 23rd. Finally, Northland Securities reiterated a hold rating and set a $80.00 price target on shares of Medtronic in a research note on Wednesday, November 22nd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $88.57.
Shares of Medtronic (NYSE:MDT) traded up $0.06 during mid-day trading on Thursday, reaching $81.54. The company’s stock had a trading volume of 3,187,505 shares, compared to its average volume of 4,956,792. Medtronic has a one year low of $69.35 and a one year high of $89.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40. The firm has a market capitalization of $110,147.66, a P/E ratio of 22.34, a PEG ratio of 2.25 and a beta of 1.00.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.26%. Medtronic’s payout ratio is presently 50.41%.
In related news, EVP Bryan C. Hanson sold 16,000 shares of Medtronic stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $82.82, for a total value of $1,325,120.00. Following the completion of the transaction, the executive vice president now directly owns 88,818 shares of the company’s stock, valued at $7,355,906.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 48,000 shares of company stock valued at $3,837,920 over the last ninety days. 0.31% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust raised its stake in Medtronic by 22.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after acquiring an additional 210 shares during the period. BDO Wealth Advisors LLC bought a new stake in Medtronic in the 2nd quarter valued at $103,000. Motco grew its holdings in Medtronic by 8.7% in the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after buying an additional 99 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in Medtronic by 21.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock valued at $114,000 after buying an additional 290 shares in the last quarter. Finally, Blue Chip Partners Inc. acquired a new position in Medtronic in the 3rd quarter valued at $118,000. 81.74% of the stock is owned by institutional investors and hedge funds.
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Medtronic Company Profile
Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.
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