Medtronic (NYSE:MDT) Trading Down 0.3% – Time to Sell?

Medtronic plc (NYSE:MDT) was down 0.3% during trading on Monday . The company traded as low as $85.94 and last traded at $86.28. Approximately 906,879 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 6,248,844 shares. The stock had previously closed at $86.54.

Analysts Set New Price Targets

MDT has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Sanford C. Bernstein raised their target price on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Barclays increased their price target on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Wells Fargo & Company lowered their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine 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 company has a consensus rating of “Hold” and an average price target of $95.27.

Medtronic Stock Down 0.1 %

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The firm’s fifty day moving average price is $88.69 and its two-hundred day moving average price is $85.00. The stock has a market cap of $110.88 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 2.45 and a beta of 0.84.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter last year, the firm posted $1.25 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Sell-side analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MDT. Fortitude Family Office LLC bought a new position in shares of Medtronic during the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Medtronic during the 3rd quarter valued at approximately $27,000. Darwin Wealth Management LLC bought a new position in Medtronic in the 3rd quarter worth approximately $27,000. Lynx Investment Advisory purchased a new position in Medtronic in the 2nd quarter valued at approximately $28,000. Finally, J. Stern & Co. LLP bought a new stake in Medtronic during the 3rd quarter valued at $30,000. Institutional investors own 82.06% of the company’s stock.

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.