Medtronic (NYSE:MDT) Stock Price Down 0.9% – Time to Sell?

Medtronic plc (NYSE:MDT) traded down 0.9% during trading on Friday . The company traded as low as $87.23 and last traded at $87.45. 1,017,016 shares were traded during trading, a decline of 83% from the average session volume of 6,100,605 shares. The stock had previously closed at $88.28.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Robert W. Baird upped their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Truist Financial lowered 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. Finally, 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, March 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $96.07.

Medtronic Stock Down 0.4 %

The firm has a market cap of $112.72 billion, a P/E ratio of 26.71, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The company’s 50-day simple moving average is $91.00 and its 200 day simple moving average is $88.05. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.03. The company had revenue of $8.29 billion for 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%. Research analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.19%. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were 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 approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Medtronic

Several large investors have recently added to or reduced their stakes in the stock. Mainstream Capital Management LLC purchased a new stake in shares of Medtronic in the fourth quarter valued at approximately $26,000. Stephens Consulting LLC lifted its holdings 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 worth $27,000 after buying an additional 204 shares during the period. Rakuten Securities Inc. grew its position in shares of Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after buying an additional 294 shares in the last quarter. Wood Tarver Financial Group LLC purchased a new position in shares of Medtronic during the fourth quarter valued at $27,000. Finally, Optiver Holding B.V. bought a new stake in shares of Medtronic in the fourth quarter valued at about $31,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

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.