Medtronic (NYSE:MDT) Stock Price Down 1.1% – Should You Sell?

Shares of Medtronic plc (NYSE:MDT) traded down 1.1% during trading on Monday . The stock traded as low as $85.08 and last traded at $85.29. 1,463,366 shares were traded during mid-day trading, a decline of 77% from the average session volume of 6,252,047 shares. The stock had previously closed at $86.21.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Stifel Nicolaus lifted their target price on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Wells Fargo & Company cut their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Evercore ISI lifted their price target on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Medtronic has a consensus rating of “Hold” and an average price target of $95.00.

Medtronic Price Performance

The company’s 50-day simple moving average is $88.99 and its 200-day simple moving average is $84.91. 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 $109.97 billion, a PE ratio of 26.08, a P/E/G ratio of 2.44 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $1.25 earnings per share. As a group, sell-side analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Institutional Trading of Medtronic

Several hedge funds have recently made changes to their positions in MDT. Clear Harbor Asset Management LLC boosted its holdings in Medtronic by 1.2% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after purchasing an additional 111 shares in the last quarter. Guardian Wealth Management Inc. lifted its holdings in shares of Medtronic by 0.9% in the 3rd quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock valued at $1,182,000 after buying an additional 115 shares during the period. First PREMIER Bank boosted its stake in shares of Medtronic by 1.8% in the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after buying an additional 116 shares in the last quarter. First City Capital Management Inc. grew its holdings in Medtronic by 2.9% during the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock worth $371,000 after acquiring an additional 116 shares during the period. Finally, Hardy Reed LLC raised its position in Medtronic by 4.4% in the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock worth $247,000 after acquiring an additional 116 shares in the last quarter. Institutional investors and hedge funds 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.