Medtronic (NYSE:MDT) Trading 0.7% Higher – Should You Buy?

Medtronic plc (NYSE:MDT)’s share price rose 0.7% on Wednesday . The stock traded as high as $91.84 and last traded at $91.57. Approximately 868,804 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 7,253,034 shares. The stock had previously closed at $90.97.

Analyst Ratings Changes

MDT has been the subject of several recent analyst reports. Truist Financial reduced their price objective 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 decreased their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Barclays raised their target price 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. JPMorgan Chase & Co. lowered their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Finally, Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $98.00 to $105.00 in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Trading Up 1.1 %

The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The firm has a market cap of $117.91 billion, a PE ratio of 28.12, a P/E/G ratio of 2.57 and a beta of 0.84. The company’s 50 day moving average price is $84.58 and its two-hundred day moving average price is $86.24.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share 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 business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter last year, the business posted $1.25 EPS. The company’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts forecast that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The firm also recently disclosed 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 3.05%. Medtronic’s dividend payout ratio is presently 85.63%.

Insiders Place Their Bets

In related news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the transaction, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.20% of the stock is owned by insiders.

Institutional Trading of Medtronic

Several institutional investors and hedge funds have recently modified their holdings of MDT. Fortitude Family Office LLC bought a new position in shares of Medtronic in the 3rd quarter worth about $27,000. Darwin Wealth Management LLC purchased a new stake in shares of Medtronic in the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new position in Medtronic during the third quarter worth $27,000. J. Stern & Co. LLP bought a new position in Medtronic in the 3rd quarter worth approximately $30,000. Finally, Stephens Consulting LLC grew its holdings 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 worth $27,000 after purchasing an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

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.