Medtronic (NYSE:MDT) Stock Price Up 0.4%

Medtronic plc (NYSE:MDT) shot up 0.4% during trading on Friday . The stock traded as high as $79.64 and last traded at $79.48. 1,222,266 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 6,242,471 shares. The stock had previously closed at $79.19.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Mizuho upped their price target on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a report on Wednesday, February 21st. Oppenheimer increased their price objective on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. Finally, Truist Financial raised their price objective on shares of Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and a consensus price target of $94.91.

Medtronic Stock Performance

The company has a quick ratio of 1.71, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $105.54 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 2.71 and a beta of 0.76. The stock’s 50-day simple moving average is $83.93 and its 200 day simple moving average is $81.04.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. The company had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $7.95 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. Medtronic’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 earnings per share. Analysts expect that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s dividend payout ratio is currently 87.90%.

Insider Activity

In related news, EVP Sean Salmon sold 30,695 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the transaction, the executive vice president now owns 48,289 shares in the company, valued at approximately $4,110,842.57. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Medtronic news, EVP Sean Salmon sold 30,695 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total value of $2,613,065.35. Following the completion of the sale, the executive vice president now owns 48,289 shares in the company, valued at approximately $4,110,842.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Marinaro sold 854 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Medtronic

Large investors have recently bought and sold shares of the business. Maryland State Retirement & Pension System raised its position in shares of Medtronic by 0.9% during the 1st quarter. Maryland State Retirement & Pension System now owns 104,293 shares of the medical technology company’s stock valued at $8,269,000 after acquiring an additional 884 shares during the last quarter. Kesler Norman & Wride LLC grew its stake in shares of Medtronic by 2.0% during the first quarter. Kesler Norman & Wride LLC now owns 60,335 shares of the medical technology company’s stock worth $5,258,000 after purchasing an additional 1,174 shares during the period. American National Bank & Trust Co. VA acquired a new stake in shares of Medtronic during the first quarter worth $3,796,000. New Century Financial Group LLC lifted its stake in Medtronic by 407.8% in the first quarter. New Century Financial Group LLC now owns 15,599 shares of the medical technology company’s stock valued at $1,359,000 after buying an additional 12,527 shares during the period. Finally, Powers Advisory Group LLC lifted its stake in Medtronic by 29.3% in the first quarter. Powers Advisory Group LLC now owns 3,627 shares of the medical technology company’s stock valued at $316,000 after buying an additional 821 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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.