Medtronic (NYSE:MDT) Shares Up 0.2% – Should You Buy?

Medtronic plc (NYSE:MDT)’s stock price was up 0.2% during mid-day trading on Monday . The company traded as high as $81.20 and last traded at $80.86. Approximately 1,207,164 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 6,473,294 shares. The stock had previously closed at $80.66.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of research analyst reports. Barclays raised their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Robert W. Baird decreased their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Truist Financial dropped their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Sanford C. Bernstein upped their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Finally, Evercore ISI raised their target price on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. One investment 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 company. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and an average target price of $95.00.

Medtronic Price Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The business has a 50 day moving average price of $83.99 and a 200-day moving average price of $84.95. The company has a market capitalization of $104.46 billion, a price-to-earnings ratio of 24.91, a P/E/G ratio of 2.33 and a beta of 0.83.

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

Medtronic Announces Dividend

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

Insider Transactions at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the sale, the executive vice president now owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Medtronic

Several hedge funds have recently bought and sold shares of MDT. Persium Advisors LLC bought a new position in shares of Medtronic during the 4th quarter valued at about $580,000. Sivia Capital Partners LLC increased its holdings in shares of Medtronic by 49.6% in the fourth quarter. Sivia Capital Partners LLC now owns 3,504 shares of the medical technology company’s stock worth $280,000 after buying an additional 1,161 shares during the period. Forza Wealth Management LLC increased its holdings in shares of Medtronic by 11.0% in the fourth quarter. Forza Wealth Management LLC now owns 4,064 shares of the medical technology company’s stock worth $325,000 after buying an additional 403 shares during the period. Bridge Creek Capital Management LLC lifted its position in Medtronic by 0.5% in the fourth quarter. Bridge Creek Capital Management LLC now owns 40,847 shares of the medical technology company’s stock valued at $3,263,000 after purchasing an additional 210 shares during the last quarter. Finally, Cooper Financial Group raised its stake in shares of Medtronic by 2.9% during the fourth quarter. Cooper Financial Group now owns 8,751 shares of the medical technology company’s stock valued at $699,000 after acquiring an additional 247 shares during the last quarter. 82.06% of the stock is currently owned by 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.