Medtronic (NYSE:MDT) Stock Price Down 0.8% – Should You Sell?

Medtronic plc (NYSE:MDT) fell 0.8% during mid-day trading on Thursday . The stock traded as low as $87.69 and last traded at $88.14. 1,966,075 shares were traded during trading, a decline of 70% from the average session volume of 6,558,270 shares. The stock had previously closed at $88.86.

Wall Street Analyst Weigh In

Several equities analysts have commented on MDT shares. UBS Group upped their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Truist Financial lowered their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Robert W. Baird upped their price target on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $96.07.

Medtronic Trading Down 5.7 %

The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $106.28 billion, a P/E ratio of 25.19, a P/E/G ratio of 2.22 and a beta of 0.80. The firm’s 50-day moving average price is $90.87 and its 200 day moving average price is $87.94.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.36 by $0.03. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. As a group, equities research analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s dividend payout ratio is 85.11%.

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Medtronic

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mainstream Capital Management LLC bought a new stake in Medtronic during the fourth quarter worth about $26,000. Stephens Consulting LLC boosted its stake in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after buying an additional 204 shares in the last quarter. Rakuten Securities Inc. lifted its position in Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 294 shares during the last quarter. Wood Tarver Financial Group LLC bought a new position in shares of Medtronic in the fourth quarter worth approximately $27,000. Finally, Optiver Holding B.V. bought a new position in shares of Medtronic in the fourth quarter worth approximately $31,000. Hedge funds and other institutional investors 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.