Medtronic (NYSE:MDT) Stock Price Up 0.5% – Should You Buy?

Medtronic plc (NYSE:MDT)’s stock price shot up 0.5% during trading on Monday . The stock traded as high as $90.71 and last traded at $90.46. 904,932 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 7,034,291 shares. The stock had previously closed at $90.01.

Analyst Upgrades and Downgrades

A number of research firms have commented on MDT. Truist Financial cut their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Wells Fargo & Company reduced 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. Barclays boosted their target price on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Wednesday. Finally, Robert W. Baird reduced their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $95.00.

Medtronic Stock Performance

The business has a 50-day moving average of $85.04 and a 200 day moving average of $86.65. 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 company has a market cap of $117.14 billion, a PE ratio of 27.94, a PEG ratio of 2.57 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $8.27 billion. During the same period last year, the firm earned $1.25 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Equities research analysts anticipate that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.07%. Medtronic’s payout ratio is 85.63%.

Insider Activity

In related news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Institutional Trading of Medtronic

Several institutional investors and hedge funds have recently made changes to their positions in MDT. Bryce Point Capital LLC purchased a new position in shares of Medtronic during the fourth quarter valued at $490,000. Huntington National Bank grew its holdings in Medtronic by 2.7% during the 4th quarter. Huntington National Bank now owns 127,597 shares of the medical technology company’s stock worth $10,192,000 after acquiring an additional 3,412 shares in the last quarter. Columbia Asset Management bought a new stake in shares of Medtronic in the 4th quarter valued at about $4,284,000. Meeder Advisory Services Inc. lifted its position in shares of Medtronic by 2.6% in the 4th quarter. Meeder Advisory Services Inc. now owns 18,604 shares of the medical technology company’s stock worth $1,486,000 after purchasing an additional 479 shares during the period. Finally, Knott David M Jr bought a new position in shares of Medtronic during the fourth quarter valued at approximately $639,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Company Profile

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.