Medtronic (NYSE:MDT) Stock Price Down 0.1% – What’s Next?

Shares of Medtronic plc (NYSE:MDT) were down 0.1% during trading on Tuesday . The stock traded as low as $93.13 and last traded at $93.29. Approximately 794,020 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 6,002,173 shares. The stock had previously closed at $93.35.

Analysts Set New Price Targets

Several analysts have commented on MDT shares. UBS Group lifted their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Robert W. Baird boosted their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Wells Fargo & Company lowered their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Medtronic has a consensus rating of “Hold” and an average target price of $96.07.

Medtronic Price Performance

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The stock has a market cap of $117.71 billion, a price-to-earnings ratio of 27.90, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The business’s fifty day simple moving average is $90.30 and its 200 day simple moving average is $88.04.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Research analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.70 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.05%. Medtronic’s dividend payout ratio is currently 85.11%.

Insider Activity

In other news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the sale, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Medtronic

A number of institutional investors have recently modified their holdings of MDT. Mainstream Capital Management LLC acquired a new stake in shares of Medtronic in the 4th quarter valued at about $26,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic during the 3rd quarter valued at about $27,000. Stephens Consulting LLC grew its position in shares of Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after buying an additional 204 shares during the last quarter. Rakuten Securities Inc. grew its position in shares of Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after buying an additional 294 shares during the last quarter. Finally, Wood Tarver Financial Group LLC bought a new stake in shares of Medtronic during the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

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.