Medtronic (NYSE:MDT) Shares Down 0% – What’s Next?

Medtronic plc (NYSE:MDT) dropped 0% on Monday . The company traded as low as $89.70 and last traded at $90.29. Approximately 1,120,548 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 6,087,349 shares. The stock had previously closed at $90.33.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Barclays lifted their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. UBS Group increased their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Truist Financial decreased their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $96.07.

Medtronic Stock Down 1.8 %

The stock has a market capitalization of $113.51 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 2.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The business has a fifty day moving average of $90.90 and a 200 day moving average of $88.04.

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

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.16%. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Medtronic

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Medtronic by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company’s stock valued at $9,921,367,000 after buying an additional 754,395 shares in the last quarter. State Street Corp increased its holdings in shares of Medtronic by 0.9% in the 3rd quarter. State Street Corp now owns 60,731,367 shares of the medical technology company’s stock valued at $5,509,155,000 after acquiring an additional 520,027 shares during the period. Capital Research Global Investors raised its position in Medtronic by 1.8% in the 4th quarter. Capital Research Global Investors now owns 33,203,685 shares of the medical technology company’s stock valued at $2,652,310,000 after purchasing an additional 571,700 shares during the last quarter. Geode Capital Management LLC boosted its stake in Medtronic by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 27,056,217 shares of the medical technology company’s stock worth $2,155,085,000 after purchasing an additional 574,055 shares during the period. Finally, Deutsche Bank AG grew its position in Medtronic by 2.1% during the 4th quarter. Deutsche Bank AG now owns 18,443,640 shares of the medical technology company’s stock worth $1,473,278,000 after purchasing an additional 372,168 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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.