Medtronic (NYSE:MDT) Trading Up 1.1% – Should You Buy?

Medtronic plc (NYSE:MDT)’s stock price rose 1.1% during mid-day trading on Thursday . The company traded as high as $89.06 and last traded at $89.20. Approximately 1,174,189 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 6,103,681 shares. The stock had previously closed at $88.23.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Truist Financial decreased their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. UBS Group increased their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and upped their target price for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Finally, Robert W. Baird raised their price target on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $96.07.

Medtronic Stock Up 0.7 %

The business’s 50-day moving average price is $90.96 and its 200-day moving average price is $88.04. The firm has a market capitalization of $113.94 billion, a PE ratio of 27.01, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

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

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.15%. Medtronic’s dividend payout ratio (DPR) is 85.11%.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Medtronic

Several institutional investors and hedge funds have recently bought and sold shares of the business. DRW Securities LLC raised its position in shares of Medtronic by 31.7% during the 3rd quarter. DRW Securities LLC now owns 6,288 shares of the medical technology company’s stock valued at $566,000 after acquiring an additional 1,512 shares during the last quarter. Loomis Sayles & Co. L P raised its holdings in shares of Medtronic by 6.9% in the third quarter. Loomis Sayles & Co. L P now owns 2,182 shares of the medical technology company’s stock valued at $196,000 after purchasing an additional 141 shares during the last quarter. Dai ichi Life Insurance Company Ltd boosted its holdings in shares of Medtronic by 21.6% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 45,096 shares of the medical technology company’s stock valued at $4,060,000 after buying an additional 8,000 shares during the last quarter. FMR LLC raised its position in Medtronic by 21.0% during the third quarter. FMR LLC now owns 1,839,569 shares of the medical technology company’s stock worth $165,616,000 after acquiring an additional 319,256 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. lifted its stake in Medtronic by 12.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 7,586 shares of the medical technology company’s stock valued at $683,000 after acquiring an additional 815 shares during the last quarter. Institutional investors 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.