Medtronic (NYSE:MDT) Trading Up 0.1% – Should You Buy?

Shares of Medtronic plc (NYSE:MDT) rose 0.1% during trading on Thursday . The stock traded as high as $80.51 and last traded at $80.11. Approximately 1,653,246 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 6,229,970 shares. The stock had previously closed at $80.03.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Evercore ISI boosted their price objective on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Sanford C. Bernstein boosted their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. JPMorgan Chase & Co. dropped their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Finally, Citigroup lifted their price objective on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Stock Performance

The firm has a market cap of $103.90 billion, a price-to-earnings ratio of 24.78, a P/E/G ratio of 2.35 and a beta of 0.82. 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 has a fifty day simple moving average of $86.90 and a two-hundred day simple moving average of $84.96.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. Medtronic’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the business earned $1.25 EPS. On average, analysts expect that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid 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 yield of 3.46%. Medtronic’s dividend payout ratio (DPR) is 85.63%.

Institutional Investors Weigh In On Medtronic

A number of institutional investors and hedge funds have recently modified their holdings of MDT. Fortitude Family Office LLC acquired a new stake in Medtronic during the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic during the third quarter worth $27,000. Darwin Wealth Management LLC acquired a new position in Medtronic during the third quarter valued at $27,000. J. Stern & Co. LLP purchased a new stake in Medtronic in the third quarter valued at $30,000. Finally, Chelsea Counsel Co. purchased a new stake in Medtronic in the third quarter valued at $45,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Company Profile

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.