Medtronic plc (NYSE:MDT) EVP Brett A. Wall Sells 12,437 Shares of Stock

Medtronic plc (NYSE:MDT) EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the transaction, the executive vice president now owns 40,979 shares of the company’s stock, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Medtronic Trading Up 2.5 %

Shares of NYSE:MDT opened at $92.45 on Tuesday. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The company has a market capitalization of $118.54 billion, a P/E ratio of 28.27, a price-to-earnings-growth ratio of 2.49 and a beta of 0.83. The company has a 50-day simple moving average of $83.75 and a 200 day simple moving average of $85.62.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period last year, the firm posted $1.25 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. Sell-side analysts forecast that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s payout ratio is presently 85.63%.

Institutional Trading of Medtronic

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Fortitude Family Office LLC acquired a new stake in Medtronic during the third quarter worth approximately $27,000. Darwin Wealth Management LLC acquired a new stake in Medtronic during the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC bought a new stake in Medtronic in the 3rd quarter valued at $27,000. J. Stern & Co. LLP acquired a new position in Medtronic in the 3rd quarter valued at $30,000. Finally, Stephens Consulting LLC increased its position in Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after buying an additional 204 shares during the period. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Sanford C. Bernstein upped their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Robert W. Baird dropped their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Barclays boosted their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Finally, Citigroup raised their price target on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $95.00.

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.