Medtronic (NYSE:MDT) Trading Down 5.2% – Should You Sell?

Medtronic PLC (NYSE:MDT) shares traded down 5.2% on Tuesday . The stock traded as low as $78.97 and last traded at $79.2330. 2,674,931 shares traded hands during trading, a decline of 71% from the average daily volume of 9,229,465 shares. The stock had previously closed at $83.57.

Analyst Ratings Changes

Several analysts have commented on the stock. TD Cowen decreased their target price on shares of Medtronic from $119.00 to $100.00 and set a “buy” rating for the company in a research report on Friday. Argus cut their price target on shares of Medtronic from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, April 6th. The Goldman Sachs Group decreased their price objective on shares of Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Robert W. Baird lowered their target price on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Finally, Citigroup cut their target price on Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Seventeen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Moderate Buy” and a consensus price target of $98.21.

Medtronic Stock Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. The firm has a fifty day simple moving average of $79.16 and a 200 day simple moving average of $88.36. The company has a market cap of $102.21 billion, a price-to-earnings ratio of 21.43, a P/E/G ratio of 2.25 and a beta of 0.56.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. The company had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, sell-side analysts expect that Medtronic PLC will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be issued a $0.72 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date is Friday, June 26th. This represents a $2.88 annualized dividend and a yield of 3.6%. Medtronic’s payout ratio is 77.21%.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the completion of the sale, the executive vice president directly owned 37,227 shares in the company, valued at $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Medtronic

Institutional investors have recently made changes to their positions in the business. Lodestone Wealth Management LLC bought a new stake in Medtronic during the 4th quarter valued at approximately $27,000. Anfield Capital Management LLC grew its holdings in Medtronic by 410.7% in the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after buying an additional 230 shares during the last quarter. Monetary Solutions Ltd bought a new position in Medtronic in the 4th quarter worth approximately $27,000. Board of the Pension Protection Fund bought a new position in Medtronic in the 4th quarter worth approximately $29,000. Finally, GoalVest Advisory LLC acquired a new position in shares of Medtronic during the fourth quarter worth approximately $29,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).