Medtronic (NYSE:MDT) Trading 0.1% Higher – Time to Buy?

Shares of Medtronic plc (NYSE:MDT) rose 0.1% on Tuesday . The stock traded as high as $90.50 and last traded at $90.25. Approximately 796,813 shares were traded during trading, a decline of 87% from the average daily volume of 6,102,713 shares. The stock had previously closed at $90.13.

Analyst Ratings Changes

A number of brokerages recently issued reports on MDT. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and upped their price objective for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. 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 report on Wednesday, December 18th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Robert W. Baird lifted their target price on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $96.07.

Medtronic Stock Down 0.0 %

The firm’s 50-day moving average price is $90.96 and its two-hundred day moving average price is $88.04. 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 firm has a market cap of $113.10 billion, a PE ratio of 26.83, a P/E/G ratio of 2.22 and a beta of 0.80.

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

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.18%. The ex-dividend date is Friday, March 28th. Medtronic’s dividend payout ratio is presently 85.11%.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their position. The sale 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 Investors Weigh In On Medtronic

A number of large investors have recently added to or reduced their stakes in MDT. Mainstream Capital Management LLC acquired a new stake in shares of Medtronic during the 4th quarter worth about $26,000. Rakuten Securities Inc. boosted its holdings in shares of Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 294 shares during the last quarter. Wood Tarver Financial Group LLC purchased a new stake in shares of Medtronic in the fourth quarter valued at $27,000. Stephens Consulting LLC increased its stake in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 204 shares during the last quarter. Finally, Optiver Holding B.V. purchased a new position in Medtronic during the fourth quarter worth about $31,000. 82.06% of the stock is 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.