Medtronic (NYSE:MDT) Trading 0.4% Higher – Still a Buy?

Medtronic plc (NYSE:MDT)’s share price shot up 0.4% during mid-day trading on Thursday . The stock traded as high as $91.14 and last traded at $90.91. 774,523 shares changed hands during trading, a decline of 89% from the average session volume of 7,310,062 shares. The stock had previously closed at $90.58.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MDT. Sanford C. Bernstein boosted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. lowered their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Robert W. Baird increased their price target on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Barclays lifted their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Medtronic currently has a consensus rating of “Hold” and an average target price of $95.00.

Medtronic Price Performance

The stock has a market cap of $116.26 billion, a PE ratio of 27.56, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The company’s fifty day moving average is $86.65 and its 200 day moving average is $87.32.

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

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is presently 85.11%.

Insider Activity

In other news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Medtronic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mainstream Capital Management LLC acquired a new stake in shares of Medtronic during the fourth quarter valued at about $26,000. Highline Wealth Partners LLC purchased a new position in Medtronic in the third quarter valued at about $27,000. Fortitude Family Office LLC acquired a new stake in Medtronic during the 3rd quarter valued at approximately $27,000. Darwin Wealth Management LLC purchased a new stake in Medtronic during the 3rd quarter worth approximately $27,000. Finally, Stephens Consulting LLC raised its position in shares of Medtronic by 145.7% in the 4th 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 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.