Medtronic (NYSE:MDT) Stock Price Up 0% – Should You Buy?

Medtronic plc (NYSE:MDT) shares rose 0% on Monday . The company traded as high as $81.08 and last traded at $80.99. Approximately 1,873,621 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 4,232,257 shares. The stock had previously closed at $80.95.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Truist Financial cut their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Evercore ISI upped their price objective on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Robert W. Baird decreased their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have assigned 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, the company presently has an average rating of “Hold” and an average price target of $95.00.

Medtronic Trading Up 3.6 %

The firm’s 50 day moving average is $84.46 and its 200 day moving average is $84.92. 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 company has a market capitalization of $106.08 billion, a PE ratio of 25.30, a P/E/G ratio of 2.33 and a beta of 0.83.

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

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.38%. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Institutional Trading of Medtronic

A number of hedge funds have recently modified their holdings of MDT. Partnership Wealth Management LLC boosted its holdings in Medtronic by 46.1% in the fourth quarter. Partnership Wealth Management LLC now owns 15,312 shares of the medical technology company’s stock worth $1,223,000 after acquiring an additional 4,828 shares in the last quarter. First Hawaiian Bank boosted its stake in Medtronic by 11.5% in the 4th quarter. First Hawaiian Bank now owns 22,393 shares of the medical technology company’s stock worth $1,789,000 after purchasing an additional 2,302 shares in the last quarter. Farmers Trust Co. grew its position in Medtronic by 0.6% during the 4th quarter. Farmers Trust Co. now owns 65,310 shares of the medical technology company’s stock valued at $5,217,000 after purchasing an additional 365 shares during the last quarter. InvesTrust bought a new stake in shares of Medtronic during the fourth quarter valued at approximately $337,000. Finally, Diversified Trust Co raised its holdings in Medtronic by 1,160.9% in the 4th quarter. Diversified Trust Co now owns 78,753 shares of the medical technology company’s stock worth $6,291,000 after acquiring an additional 72,507 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

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.