Medtronic plc (NYSE:MDT - Get Free Report) EVP Michael Marinaro sold 854 shares of the company's stock in a transaction on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the sale, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Medtronic Trading Up 1.1 %
MDT stock opened at $83.80 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30. The company's 50-day simple moving average is $85.02 and its 200 day simple moving average is $80.96. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $92.02. The company has a market capitalization of $111.27 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 2.89 and a beta of 0.76.
Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.26 by $0.04. The firm had revenue of $8.09 billion for the quarter, compared to the consensus estimate of $7.95 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The business's revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 earnings per share. As a group, sell-side analysts anticipate that Medtronic plc will post 5.2 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 22nd will be issued a $0.69 dividend. The ex-dividend date is Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.29%. Medtronic's dividend payout ratio (DPR) is currently 87.90%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Fortitude Family Office LLC acquired a new stake in Medtronic in the 4th quarter valued at $25,000. Hartford Financial Management Inc. grew its position in Medtronic by 425.0% in the 3rd quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company's stock valued at $25,000 after purchasing an additional 255 shares during the period. MeadowBrook Investment Advisors LLC acquired a new stake in Medtronic in the 4th quarter valued at $27,000. Financial Gravity Asset Management Inc. grew its position in Medtronic by 317.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company's stock valued at $29,000 after purchasing an additional 279 shares during the period. Finally, Fairfield Bush & CO. acquired a new stake in Medtronic in the 2nd quarter valued at $32,000. Institutional investors own 82.06% of the company's stock.
Analysts Set New Price Targets
Several research firms have issued reports on MDT. Truist Financial upped their price target on shares of Medtronic from $87.00 to $90.00 and gave the stock a "hold" rating in a research report on Wednesday, February 21st. Oppenheimer upped their price objective on shares of Medtronic from $89.00 to $92.00 and gave the company a "market perform" rating in a report on Wednesday, February 21st. Mizuho upped their price objective on shares of Medtronic from $95.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday, February 21st. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $92.00 price objective on shares of Medtronic in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $94.91.
Check Out Our Latest Report on MDT
About Medtronic
(
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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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