Medtronic (NYSE:MDT) Trading Down 1.2% – Should You Sell?

Shares of Medtronic plc (NYSE:MDT) were down 1.2% during trading on Thursday . The stock traded as low as $86.82 and last traded at $86.94. Approximately 1,154,637 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 6,186,816 shares. The stock had previously closed at $87.97.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Friday, October 25th. Truist Financial lifted their price objective on Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Robert W. Baird lifted their price target on shares of Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Finally, UBS Group raised shares of Medtronic from a “sell” rating to a “neutral” rating and increased their price objective for the company from $76.00 to $90.00 in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $95.36.

Medtronic Stock Down 1.5 %

The business’s fifty day moving average price is $89.59 and its 200 day moving average price is $84.66. The firm has a market capitalization of $111.18 billion, a price-to-earnings ratio of 29.37, a PEG ratio of 2.52 and a beta of 0.84. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The business had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.90 billion. During the same period in the prior year, the company earned $1.20 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. On average, equities analysts expect that Medtronic plc will post 5.44 EPS for the current year.

Hedge Funds Weigh In On Medtronic

Large investors have recently bought and sold shares of the company. TD Asset Management Inc raised its stake in shares of Medtronic by 0.3% during the 1st quarter. TD Asset Management Inc now owns 1,037,061 shares of the medical technology company’s stock worth $90,380,000 after buying an additional 2,847 shares in the last quarter. SageView Advisory Group LLC boosted its position in shares of Medtronic by 130.3% during the 1st quarter. SageView Advisory Group LLC now owns 16,829 shares of the medical technology company’s stock worth $1,467,000 after purchasing an additional 9,523 shares in the last quarter. Blair William & Co. IL grew its stake in shares of Medtronic by 6.5% during the 1st quarter. Blair William & Co. IL now owns 139,827 shares of the medical technology company’s stock worth $12,186,000 after purchasing an additional 8,513 shares during the period. Orion Portfolio Solutions LLC increased its holdings in shares of Medtronic by 13.8% in the 1st quarter. Orion Portfolio Solutions LLC now owns 69,034 shares of the medical technology company’s stock valued at $6,016,000 after purchasing an additional 8,352 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC lifted its stake in shares of Medtronic by 2.3% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 145,836 shares of the medical technology company’s stock valued at $12,710,000 after purchasing an additional 3,294 shares during the period. Hedge funds and other 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.