Medtronic (NYSE:MDT) Trading 0% Higher – What’s Next?

Shares of Medtronic plc (NYSE:MDT) rose 0% during trading on Tuesday . The company traded as high as $81.49 and last traded at $81.41. Approximately 630,382 shares were traded during trading, a decline of 90% from the average daily volume of 6,253,626 shares. The stock had previously closed at $81.40.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. Barclays lifted their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Evercore ISI increased their price objective on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Sanford C. Bernstein lifted their target price on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Trading Up 0.2 %

The company has a market cap of $104.56 billion, a P/E ratio of 24.94, a P/E/G ratio of 2.33 and a beta of 0.82. The business has a fifty day simple moving average of $86.73 and a 200 day simple moving average of $84.99. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

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

Medtronic Announces Dividend

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 issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Institutional Trading of Medtronic

Large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its stake in shares of Medtronic by 3.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 917,920 shares of the medical technology company’s stock worth $72,250,000 after purchasing an additional 30,310 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in shares of Medtronic during the 2nd quarter worth $337,000. AustralianSuper Pty Ltd raised its position in shares of Medtronic by 4.6% during the second quarter. AustralianSuper Pty Ltd now owns 74,952 shares of the medical technology company’s stock worth $5,899,000 after purchasing an additional 3,307 shares during the period. Kintegral Advisory LLC lifted its holdings in shares of Medtronic by 385.1% during the second quarter. Kintegral Advisory LLC now owns 56,264 shares of the medical technology company’s stock valued at $4,468,000 after purchasing an additional 44,666 shares during the last quarter. Finally, Zimmermann Investment Management & Planning LLC boosted its position in shares of Medtronic by 9.3% in the 2nd quarter. Zimmermann Investment Management & Planning LLC now owns 5,137 shares of the medical technology company’s stock valued at $404,000 after purchasing an additional 437 shares during the period. 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.