Medtronic (NYSE:MDT) Stock Price Down 0.6% – What’s Next?

Shares of Medtronic plc (NYSE:MDT) traded down 0.6% on Thursday . The stock traded as low as $92.68 and last traded at $93.51. 1,036,740 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 6,011,983 shares. The stock had previously closed at $94.06.

Analyst Ratings Changes

Several equities analysts recently issued reports on MDT shares. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and increased their target price for the stock from $92.00 to $107.00 in a research report on Tuesday. Sanford C. Bernstein lifted their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Barclays increased their price objective on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, UBS Group lifted 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $96.07.

Medtronic Trading Down 1.2 %

The firm’s 50 day moving average is $87.82 and its 200 day moving average is $87.68. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The company has a market cap of $119.16 billion, a PE ratio of 28.20, a PEG ratio of 2.22 and a beta of 0.84.

Medtronic (NYSE:MDT) last released 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 analysts’ expectations of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, equities analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the sale, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Medtronic

Hedge funds and other institutional investors have recently bought and sold shares of the company. Guardian Wealth Management Inc. raised its position in Medtronic by 0.9% in the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock valued at $1,182,000 after purchasing an additional 115 shares during the period. MONECO Advisors LLC boosted its holdings in Medtronic by 1.8% during the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company’s stock valued at $512,000 after acquiring an additional 115 shares during the period. First City Capital Management Inc. grew its position in Medtronic by 2.9% in the 3rd quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock valued at $371,000 after acquiring an additional 116 shares in the last quarter. Hardy Reed LLC increased its stake in Medtronic by 4.4% during the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock worth $247,000 after purchasing an additional 116 shares during the period. Finally, OLD Second National Bank of Aurora grew its holdings in shares of Medtronic by 0.3% in the fourth quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company’s stock valued at $2,900,000 after purchasing an additional 121 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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.