Medtronic (NYSE:MDT) Trading 0% Higher – What’s Next?

Medtronic plc (NYSE:MDT) traded up 0% during mid-day trading on Tuesday . The stock traded as high as $90.90 and last traded at $90.56. 901,314 shares were traded during trading, a decline of 88% from the average session volume of 7,341,353 shares. The stock had previously closed at $90.53.

Analyst Upgrades and Downgrades

MDT has been the subject of several research analyst reports. Barclays lifted their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Robert W. Baird decreased their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Sanford C. Bernstein increased their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Finally, Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $95.00.

Medtronic Stock Performance

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The stock has a market capitalization of $116.50 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The company has a 50 day simple moving average of $84.69 and a 200-day simple moving average of $86.28.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period in the previous year, the business earned $1.25 EPS. Medtronic’s revenue was up 5.2% compared to the same quarter last year. On average, equities analysts forecast that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is presently 85.63%.

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MDT. Czech National Bank raised its position in shares of Medtronic by 3.3% during the 3rd quarter. Czech National Bank now owns 261,279 shares of the medical technology company’s stock valued at $23,523,000 after buying an additional 8,249 shares in the last quarter. Callan Family Office LLC increased its stake in Medtronic by 27.7% in the third quarter. Callan Family Office LLC now owns 3,723 shares of the medical technology company’s stock valued at $335,000 after acquiring an additional 808 shares during the last quarter. Atomi Financial Group Inc. raised its position in Medtronic by 36.9% during the third quarter. Atomi Financial Group Inc. now owns 11,989 shares of the medical technology company’s stock valued at $1,079,000 after purchasing an additional 3,230 shares in the last quarter. O Keefe Stevens Advisory Inc. lifted its stake in Medtronic by 42.8% during the third quarter. O Keefe Stevens Advisory Inc. now owns 5,429 shares of the medical technology company’s stock worth $489,000 after purchasing an additional 1,628 shares during the last quarter. Finally, Talbot Financial LLC boosted its holdings in shares of Medtronic by 3.6% in the 3rd quarter. Talbot Financial LLC now owns 125,422 shares of the medical technology company’s stock worth $11,292,000 after purchasing an additional 4,371 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.