Medtronic (NYSE:MDT) Trading Up 0% – Here’s What Happened

Medtronic plc (NYSE:MDTGet Free Report) shares traded up 0% during mid-day trading on Friday . The company traded as high as $81.27 and last traded at $80.92. 690,091 shares were traded during trading, a decline of 89% from the average session volume of 6,227,130 shares. The stock had previously closed at $80.90.

Wall Street Analyst Weigh In

Several research analysts recently commented on MDT shares. JPMorgan Chase & Co. reduced their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Citigroup lifted their target price on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Barclays upped their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Wells Fargo & Company cut their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Finally, Sanford C. Bernstein upped their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $95.00.

Get Our Latest Analysis on Medtronic

Medtronic Trading Down 1.1 %

The company has a market cap of $103.53 billion, a P/E ratio of 24.69, a P/E/G ratio of 2.33 and a beta of 0.82. The business has a fifty day simple moving average of $86.00 and a 200 day simple moving average of $84.92. 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:MDTGet Free Report) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. Medtronic’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 earnings per share. Analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.47%. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Hedge Funds Weigh In On Medtronic

A number of institutional investors and hedge funds have recently bought and sold shares of MDT. Clear Harbor Asset Management LLC raised its holdings in Medtronic by 1.2% during the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock worth $861,000 after purchasing an additional 111 shares in the last quarter. Guardian Wealth Management Inc. increased its position in shares of Medtronic by 0.9% during the 3rd quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock valued at $1,182,000 after purchasing an additional 115 shares during the period. First PREMIER Bank increased its position in shares of Medtronic by 1.8% during the 3rd quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after purchasing an additional 116 shares during the period. First City Capital Management Inc. raised its stake in shares of Medtronic by 2.9% in the 3rd quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock worth $371,000 after buying an additional 116 shares in the last quarter. Finally, Hardy Reed LLC lifted its holdings in shares of Medtronic by 4.4% in the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock valued at $247,000 after buying an additional 116 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Company Profile

(Get Free Report)

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.

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