Medtronic (NYSE:MDT) Trading 0.6% Higher – Time to Buy?

Medtronic plc (NYSE:MDTGet Free Report) shares shot up 0.6% during trading on Thursday . The company traded as high as $80.67 and last traded at $80.33. 641,034 shares were traded during trading, a decline of 90% from the average session volume of 6,230,272 shares. The stock had previously closed at $79.88.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Evercore ISI increased 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. Sanford C. Bernstein boosted their price target on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Finally, Robert W. Baird dropped their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Medtronic currently has an average rating of “Hold” and a consensus price target of $95.00.

Check Out Our Latest Research Report on MDT

Medtronic Trading Up 0.9 %

The stock has a market cap of $103.80 billion, a P/E ratio of 24.76, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The stock’s 50-day moving average is $84.89 and its two-hundred day moving average is $84.86.

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

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.46%. Medtronic’s dividend payout ratio is currently 85.63%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Fortitude Family Office LLC acquired a new position in shares of Medtronic during the 3rd quarter worth about $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic during the third quarter worth $27,000. Darwin Wealth Management LLC purchased a new stake in shares of Medtronic in the third quarter valued at about $27,000. J. Stern & Co. LLP purchased a new position in shares of Medtronic during the 3rd quarter worth approximately $30,000. Finally, Chelsea Counsel Co. purchased a new position in Medtronic in the third quarter worth $45,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

About Medtronic

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.