Medtronic (NYSE:MDT) Stock Price Down 0.3% – Should You Sell?

Shares of Medtronic plc (NYSE:MDT) traded down 0.3% during trading on Monday . The stock traded as low as $81.92 and last traded at $82.21. 961,526 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 6,216,522 shares. The stock had previously closed at $82.48.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Oppenheimer raised their price target on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. Barclays raised their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Finally, Citigroup raised their price objective on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and an average target price of $95.27.

Medtronic Trading Down 1.4 %

The firm has a market cap of $104.31 billion, a PE ratio of 25.14, a P/E/G ratio of 2.35 and a beta of 0.82. The company’s fifty day moving average price is $87.66 and its two-hundred day moving average price is $85.03. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last released its quarterly earnings data 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. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts forecast that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Hedge Funds Weigh In On Medtronic

Institutional investors have recently modified their holdings of the company. Fortitude Family Office LLC acquired a new position in Medtronic during the third quarter worth approximately $27,000. Highline Wealth Partners LLC purchased a new stake in Medtronic during the third quarter worth approximately $27,000. Darwin Wealth Management LLC purchased a new stake in Medtronic during the third quarter worth approximately $27,000. J. Stern & Co. LLP purchased a new stake in Medtronic during the third quarter worth approximately $30,000. Finally, Chelsea Counsel Co. purchased a new stake in Medtronic during the third quarter worth approximately $45,000. 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.