Medtronic (NYSE:MDT) Trading Down 0% – Should You Sell?

Medtronic plc (NYSE:MDT) shares fell 0% during mid-day trading on Thursday . The stock traded as low as $81.22 and last traded at $81.53. 509,463 shares changed hands during trading, a decline of 92% from the average session volume of 6,238,044 shares. The stock had previously closed at $81.54.

Analyst Ratings Changes

MDT has been the subject of a number of research reports. Barclays raised their price objective on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Truist Financial decreased their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Evercore ISI upped their target price on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Citigroup lifted their price objective on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $95.00.

Medtronic Trading Up 0.2 %

The firm has a market cap of $104.75 billion, a price-to-earnings ratio of 24.98, a price-to-earnings-growth ratio of 2.33 and a beta of 0.82. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The business’s fifty day moving average is $86.39 and its two-hundred day moving average is $84.94.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the firm posted $1.25 earnings per share. Medtronic’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be issued a $0.70 dividend. The ex-dividend date is Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.43%. Medtronic’s dividend payout ratio is presently 85.63%.

Institutional Trading of Medtronic

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Fortitude Family Office LLC bought a new stake in Medtronic in the third quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic in the 3rd quarter valued at $27,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic in the 3rd quarter valued at $27,000. J. Stern & Co. LLP acquired a new stake in Medtronic during the 3rd quarter worth $30,000. Finally, Chelsea Counsel Co. bought a new position in Medtronic during the third quarter worth about $45,000. 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.