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

Medtronic plc (NYSE:MDT)’s share price was down 0% on Monday . The stock 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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MDT. Robert W. Baird raised their price objective on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Truist Financial cut their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and a consensus price target of $96.07.

Medtronic Stock Down 0.1 %

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 stock has a market cap of $115.78 billion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The company’s 50-day moving average price is $90.67 and its 200 day moving average price is $88.05.

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

Medtronic Dividend Announcement

The company 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. This represents a $2.80 annualized dividend and a yield of 3.10%. The ex-dividend date is Friday, March 28th. Medtronic’s dividend payout ratio is 85.11%.

Insider Buying and Selling at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction that occurred on 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 directly owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Medtronic

Several institutional investors and hedge funds have recently modified their holdings of the stock. 111 Capital purchased a new stake in Medtronic in the 4th quarter worth $919,000. Wealth Enhancement Advisory Services LLC increased its position in Medtronic by 32.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 477,719 shares of the medical technology company’s stock worth $38,160,000 after purchasing an additional 116,310 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new stake in Medtronic during the fourth quarter valued at $2,599,000. Capstone Triton Financial Group LLC grew its stake in shares of Medtronic by 2.2% in the 4th quarter. Capstone Triton Financial Group LLC now owns 10,009 shares of the medical technology company’s stock worth $800,000 after buying an additional 213 shares in the last quarter. Finally, Mattson Financial Services LLC increased its holdings in shares of Medtronic by 6.3% in the 4th quarter. Mattson Financial Services LLC now owns 42,159 shares of the medical technology company’s stock worth $3,368,000 after buying an additional 2,489 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.