Medtronic (NYSE:MDT) Trading Down 0.2% – Time to Sell?

Medtronic plc (NYSE:MDT)’s share price fell 0.2% during mid-day trading on Thursday . The company traded as low as $91.13 and last traded at $91.50. 917,052 shares changed hands during trading, a decline of 87% from the average session volume of 7,168,291 shares. The stock had previously closed at $91.69.

Wall Street Analyst Weigh In

MDT has been the topic of a number of recent analyst reports. Barclays boosted their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Truist Financial reduced their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Sanford C. Bernstein boosted their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Finally, Robert W. Baird lowered their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Stock Down 0.9 %

The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The company has a market cap of $115.42 billion, a P/E ratio of 27.53, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The firm’s 50 day moving average price is $84.85 and its 200-day moving average price is $86.38.

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

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.11%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is 85.63%.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the transaction, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.20% of the company’s stock.

Institutional Trading of Medtronic

Hedge funds have recently added to or reduced their stakes in the business. Mainstream Capital Management LLC bought a new stake in shares of Medtronic in the fourth quarter worth about $26,000. Fortitude Family Office LLC acquired a new position in shares of Medtronic in the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC bought a new stake in Medtronic during the 3rd quarter worth approximately $27,000. Darwin Wealth Management LLC acquired a new stake in Medtronic during the 3rd quarter worth approximately $27,000. Finally, Stephens Consulting LLC lifted its stake in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after buying an additional 204 shares in the last quarter. Institutional investors and hedge funds 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.