Medtronic (NYSE:MDT) Trading Up 0.2% – Time to Buy?

Medtronic plc (NYSE:MDT)’s share price traded up 0.2% during trading on Wednesday . The stock traded as high as $81.78 and last traded at $81.54. 2,465,929 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 6,261,645 shares. The stock had previously closed at $81.40.

Analysts Set New Price Targets

Several research analysts recently weighed in on MDT shares. Evercore ISI upped their price target on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Barclays raised their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Finally, Sanford C. Bernstein lifted their target price on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. One 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 company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Price Performance

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 company’s 50-day moving average is $86.56 and its 200-day moving average is $84.97. The stock has a market cap of $104.56 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 2.33 and a beta of 0.82.

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

Medtronic Announces Dividend

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

Institutional Trading of Medtronic

Several large investors have recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in shares of Medtronic in the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC bought a new position in Medtronic in the 3rd quarter valued at $27,000. Darwin Wealth Management LLC acquired a new position in Medtronic in the third quarter worth $27,000. J. Stern & Co. LLP bought a new stake in shares of Medtronic during the third quarter worth $30,000. Finally, Chelsea Counsel Co. acquired a new stake in shares of Medtronic in the third quarter valued at $45,000. 82.06% of the stock is owned by institutional investors.

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.