Medtronic plc (NYSE:MDT – Get Rating) EVP Hoedt Rob Ten sold 2,404 shares of the stock in a transaction that occurred on Friday, October 14th. The shares were sold at an average price of $81.54, for a total value of $196,022.16. Following the completion of the sale, the executive vice president now directly owns 43,483 shares of the company’s stock, valued at approximately $3,545,603.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Medtronic Trading Up 1.4 %
Shares of MDT traded up $1.15 during midday trading on Monday, hitting $82.76. 8,962,092 shares of the stock were exchanged, compared to its average volume of 6,051,523. Medtronic plc has a 52-week low of $79.44 and a 52-week high of $124.80. The stock has a fifty day simple moving average of $87.95 and a 200 day simple moving average of $94.70. The firm has a market cap of $110.00 billion, a P/E ratio of 21.39, a P/E/G ratio of 1.81 and a beta of 0.76. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.23 and a current ratio of 1.58.
Medtronic (NYSE:MDT – Get Rating) last released its quarterly earnings results on Tuesday, August 23rd. The medical technology company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.12 by $0.01. The business had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.20 billion. Medtronic had a return on equity of 13.64% and a net margin of 16.75%. During the same period last year, the business posted $1.41 earnings per share. On average, research analysts anticipate that Medtronic plc will post 5.53 EPS for the current fiscal year.
Medtronic Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 23rd were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Thursday, September 22nd. Medtronic’s dividend payout ratio (DPR) is 70.28%.
Hedge Funds Weigh In On Medtronic
A number of large investors have recently bought and sold shares of the stock. Chase Investment Counsel Corp raised its stake in shares of Medtronic by 2.9% in the 1st quarter. Chase Investment Counsel Corp now owns 3,220 shares of the medical technology company’s stock valued at $357,000 after acquiring an additional 90 shares during the period. Wedge Capital Management L L P NC grew its holdings in Medtronic by 3.6% during the 1st quarter. Wedge Capital Management L L P NC now owns 2,633 shares of the medical technology company’s stock worth $292,000 after acquiring an additional 92 shares in the last quarter. Main Street Financial Solutions LLC grew its holdings in Medtronic by 0.9% during the 1st quarter. Main Street Financial Solutions LLC now owns 9,944 shares of the medical technology company’s stock worth $1,103,000 after acquiring an additional 92 shares in the last quarter. Rosenberg Matthew Hamilton grew its holdings in Medtronic by 7.9% during the 1st quarter. Rosenberg Matthew Hamilton now owns 1,286 shares of the medical technology company’s stock worth $143,000 after acquiring an additional 94 shares in the last quarter. Finally, Riverwater Partners LLC grew its holdings in Medtronic by 2.2% during the 1st quarter. Riverwater Partners LLC now owns 4,527 shares of the medical technology company’s stock worth $502,000 after acquiring an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 79.81% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. Royal Bank of Canada cut their price target on Medtronic from $122.00 to $110.00 in a report on Wednesday, September 7th. Citigroup cut their price target on Medtronic from $110.00 to $108.00 in a report on Wednesday, October 5th. Mizuho assumed coverage on Medtronic in a report on Wednesday, October 12th. They issued a “buy” rating and a $100.00 price target for the company. Piper Sandler cut their price target on Medtronic from $100.00 to $90.00 in a report on Tuesday, August 23rd. Finally, Jefferies Financial Group began coverage on Medtronic in a research note on Wednesday, October 12th. They set a “hold” rating and a $87.00 target price for the company. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $109.04.
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.