Medtronic (NYSE:MDT) Stock Price Up 0.5%

Medtronic plc (NYSE:MDT) shares rose 0.5% during trading on Thursday . The company traded as high as $85.59 and last traded at $85.16. Approximately 1,480,532 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 6,048,368 shares. The stock had previously closed at $84.72.

Wall Street Analyst Weigh In

MDT has been the topic of a number of research reports. Truist Financial upped their price target on shares of Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a research note on Wednesday, February 21st. Mizuho boosted their price objective on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, Oppenheimer boosted their price objective on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $94.91.

Medtronic Stock Performance

The company has a market cap of $114.09 billion, a P/E ratio of 27.36, a P/E/G ratio of 2.79 and a beta of 0.78. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30. The stock’s fifty day moving average price is $82.91 and its two-hundred day moving average price is $82.26.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.26 by $0.04. The business had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $7.95 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.30 EPS. As a group, equities analysts predict that Medtronic plc will post 5.2 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is currently 87.90%.

Insider Buying and Selling at Medtronic

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Loudon Investment Management LLC lifted its holdings in shares of Medtronic by 9.5% in the fourth quarter. Loudon Investment Management LLC now owns 10,026 shares of the medical technology company’s stock valued at $786,000 after purchasing an additional 874 shares in the last quarter. BKM Wealth Management LLC bought a new stake in Medtronic in the fourth quarter worth about $941,000. International Assets Investment Management LLC boosted its stake in Medtronic by 8,340.3% in the fourth quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company’s stock valued at $85,558,000 after acquiring an additional 1,026,274 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Medtronic by 69.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 40,476 shares of the medical technology company’s stock worth $3,172,000 after purchasing an additional 16,574 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its stake in Medtronic by 43.0% in the fourth quarter. Apollon Wealth Management LLC now owns 50,804 shares of the medical technology company’s stock valued at $4,185,000 after purchasing an additional 15,265 shares during the last quarter. 82.06% of the stock is owned by 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.