Medtronic (NYSE:MDT) Shares Up 0% – Still a Buy?

Shares of Medtronic plc (NYSE:MDTGet Free Report) traded up 0% on Monday . The company traded as high as $81.08 and last traded at $80.99. 1,873,621 shares were traded during trading, a decline of 56% from the average session volume of 4,232,257 shares. The stock had previously closed at $80.95.

Wall Street Analyst Weigh In

MDT has been the topic of several research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. JPMorgan Chase & Co. reduced their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Citigroup lifted their target price on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Finally, Sanford C. Bernstein upped 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. One 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $95.00.

Read Our Latest Analysis on Medtronic

Medtronic Trading Down 1.1 %

The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $102.66 billion, a P/E ratio of 24.48, a PEG ratio of 2.33 and a beta of 0.83. The business has a 50 day moving average of $84.89 and a 200-day moving average of $84.93.

Medtronic (NYSE:MDTGet Free Report) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 earnings per share. Analysts anticipate that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.50%. Medtronic’s dividend payout ratio (DPR) is 85.63%.

Institutional Investors Weigh In On Medtronic

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. North Star Asset Management Inc. raised its holdings in shares of Medtronic by 5.5% in the second quarter. North Star Asset Management Inc. now owns 4,421 shares of the medical technology company’s stock valued at $348,000 after purchasing an additional 229 shares during the last quarter. Advisor OS LLC grew its position in Medtronic by 5.4% in the second quarter. Advisor OS LLC now owns 4,406 shares of the medical technology company’s stock valued at $347,000 after purchasing an additional 225 shares in the last quarter. Lake Street Advisors Group LLC grew its position in Medtronic by 4.2% in the second quarter. Lake Street Advisors Group LLC now owns 5,906 shares of the medical technology company’s stock valued at $469,000 after purchasing an additional 236 shares in the last quarter. Wakefield Asset Management LLLP increased its stake in Medtronic by 4.7% in the 2nd quarter. Wakefield Asset Management LLLP now owns 4,994 shares of the medical technology company’s stock valued at $393,000 after buying an additional 226 shares during the last quarter. Finally, Chicago Capital LLC bought a new stake in Medtronic during the 2nd quarter worth about $201,000. Institutional investors and hedge funds 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.

Further Reading

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