Medtronic (NYSE:MDT) Trading Down 0.1%

Medtronic plc (NYSE:MDTGet Free Report) dropped 0.1% on Tuesday . The company traded as low as $81.87 and last traded at $82.20. Approximately 1,738,411 shares were traded during trading, a decline of 72% from the average daily volume of 6,139,292 shares. The stock had previously closed at $82.29.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Medtronic from $102.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, May 24th. Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a research report on Friday, May 24th. Oppenheimer upped their price objective on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 21st. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Friday, May 24th. Finally, The Goldman Sachs Group started coverage on Medtronic in a report on Thursday. They set a “sell” rating and a $83.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $93.00.

View Our Latest Stock Report on Medtronic

Medtronic Stock Down 1.1 %

The firm has a market cap of $107.02 billion, a PE ratio of 29.53, a PEG ratio of 2.39 and a beta of 0.78. The company’s 50-day simple moving average is $82.69 and its two-hundred day simple moving average is $82.98. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.55 and a current ratio of 2.03.

Medtronic (NYSE:MDTGet Free Report) last announced its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.01. The firm had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.44 billion. Medtronic had a net margin of 11.36% and a return on equity of 13.47%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the business posted $1.57 earnings per share. On average, analysts predict that Medtronic plc will post 5.44 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, June 28th. This is a boost from Medtronic’s previous quarterly dividend of $0.69. This represents a $2.80 dividend on an annualized basis and a yield of 3.47%. Medtronic’s dividend payout ratio (DPR) is currently 100.36%.

Insider Buying and Selling

In other Medtronic news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the sale, the executive vice president now directly owns 27,925 shares in the company, valued at approximately $2,321,684.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Equity Investment Corp increased its position in shares of Medtronic by 27.9% in the fourth quarter. Equity Investment Corp now owns 1,341,079 shares of the medical technology company’s stock valued at $110,478,000 after buying an additional 292,459 shares in the last quarter. Loudon Investment Management LLC increased its stake in shares of Medtronic by 9.5% during the fourth quarter. Loudon Investment Management LLC now owns 10,026 shares of the medical technology company’s stock worth $786,000 after purchasing an additional 874 shares in the last quarter. BKM Wealth Management LLC purchased a new position in Medtronic in the 4th quarter valued at about $941,000. International Assets Investment Management LLC boosted its position in Medtronic by 8,340.3% during the fourth quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company’s stock worth $85,558,000 after acquiring an additional 1,026,274 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Medtronic by 69.3% in the third quarter. Tower Research Capital LLC TRC now owns 40,476 shares of the medical technology company’s stock valued at $3,172,000 after purchasing an additional 16,574 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

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.

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