Medtronic (NYSE:MDT) Trading Down 0.1% – Time to Sell?

Shares of Medtronic plc (NYSE:MDT) dropped 0.1% during mid-day trading on Tuesday . The stock traded as low as $87.81 and last traded at $88.18. Approximately 801,575 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 6,170,045 shares. The stock had previously closed at $88.27.

Wall Street Analyst Weigh In

A number of analysts recently commented on MDT shares. Daiwa America upgraded Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Stifel Nicolaus boosted their price target on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. Oppenheimer raised their price objective on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a report on Wednesday, August 21st. Wells Fargo & Company boosted their target price on shares of Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Robert W. Baird raised their price target on shares of Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $95.36.

Medtronic Stock Down 0.0 %

The business has a 50 day moving average price of $89.67 and a 200 day moving average price of $84.57. The stock has a market cap of $113.18 billion, a PE ratio of 29.78, a P/E/G ratio of 2.51 and a beta of 0.84. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. The firm had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the firm posted $1.20 earnings per share. Equities research analysts expect that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.17%. The ex-dividend date was Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is presently 94.59%.

Institutional Investors Weigh In On Medtronic

Several large investors have recently added to or reduced their stakes in the business. Fortitude Family Office LLC acquired a new stake in shares of Medtronic during the 3rd quarter worth about $27,000. Highline Wealth Partners LLC purchased a new position in Medtronic in the 3rd quarter valued at $27,000. Darwin Wealth Management LLC acquired a new position in Medtronic during the 3rd quarter worth approximately $27,000. Lynx Investment Advisory purchased a new stake in shares of Medtronic during the 2nd quarter worth $28,000. Finally, Gleason Group Inc. acquired a new stake in shares of Medtronic during the 2nd quarter valued at approximately $42,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

About Medtronic

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.