Medtronic (NYSE:MDT) Stock Price Down 0.5%

Medtronic plc (NYSE:MDT) shares traded down 0.5% during trading on Monday . The company traded as low as $81.30 and last traded at $81.30. 890,397 shares changed hands during trading, a decline of 86% from the average session volume of 6,166,283 shares. The stock had previously closed at $81.69.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research report on Wednesday, February 21st. Truist Financial upped their price target on Medtronic from $87.00 to $90.00 and gave the company a “hold” 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 stock a “market perform” rating in a report on Wednesday, February 21st. Finally, Mizuho upped their target price on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $94.91.

Medtronic Trading Up 0.1 %

The company has a market cap of $108.57 billion, a P/E ratio of 25.89, a PEG ratio of 2.66 and a beta of 0.78. The stock’s 50 day moving average is $83.08 and its 200-day moving average is $81.56. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46.

Medtronic (NYSE:MDT) last announced 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 analysts’ expectations of $7.95 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. Medtronic’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.30 EPS. Research analysts anticipate that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 22nd were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Thursday, March 21st. Medtronic’s payout ratio is 87.90%.

Insider Buying and Selling

In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were 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 approximately $4,110,842.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were 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 approximately $4,110,842.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Marinaro sold 854 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction 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. 0.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Medtronic

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fortitude Family Office LLC purchased a new stake in shares of Medtronic during the 4th quarter valued at about $25,000. Leith Wheeler Investment Counsel Ltd. increased its position in shares of Medtronic by 293.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 236,064 shares during the last quarter. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Medtronic during the 4th quarter valued at about $27,000. LifeSteps Financial Inc. purchased a new stake in shares of Medtronic during the 1st quarter valued at about $27,000. Finally, Financial Gravity Asset Management Inc. increased its position in shares of Medtronic by 317.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 279 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

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.