Medtronic (NYSE:MDT) Trading Up 0.1%

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MDT shares. Truist Financial upped their target price on Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a research note on Wednesday, February 21st. Mizuho upped their target price on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, Oppenheimer upped their target price on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Medtronic presently has an average rating of “Hold” and an average price target of $94.91.

Medtronic Stock Performance

The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. The company has a market cap of $107.67 billion, a P/E ratio of 25.80, a P/E/G ratio of 2.75 and a beta of 0.78. The business has a fifty day moving average of $83.25 and a 200 day moving average of $81.37.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. The company had revenue of $8.09 billion during 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%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 earnings per share. On average, equities analysts predict that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Dividend Announcement

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

Insiders Place Their Bets

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the stock in a transaction 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 completion of 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 filing with the SEC, which is available through the SEC website. Also, EVP Michael Marinaro sold 854 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Medtronic

A number of institutional investors have recently modified their holdings of the stock. Daiwa Securities Group Inc. grew its stake in shares of Medtronic by 10.0% in the first quarter. Daiwa Securities Group Inc. now owns 135,268 shares of the medical technology company’s stock worth $11,789,000 after acquiring an additional 12,250 shares during the last quarter. Graypoint LLC boosted its position in shares of Medtronic by 6.3% during the first quarter. Graypoint LLC now owns 6,273 shares of the medical technology company’s stock valued at $547,000 after buying an additional 373 shares during the last quarter. Haverford Trust Co boosted its position in shares of Medtronic by 8.5% during the first quarter. Haverford Trust Co now owns 1,439,956 shares of the medical technology company’s stock valued at $125,492,000 after buying an additional 113,322 shares during the last quarter. Consolidated Planning Corp boosted its position in shares of Medtronic by 4.7% during the first quarter. Consolidated Planning Corp now owns 50,940 shares of the medical technology company’s stock valued at $4,439,000 after buying an additional 2,267 shares during the last quarter. Finally, Quent Capital LLC boosted its position in shares of Medtronic by 8.0% during the first quarter. Quent Capital LLC now owns 1,680 shares of the medical technology company’s stock valued at $146,000 after buying an additional 125 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

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.