By otakuyassine3@gmail.com 
Medtronic (NYSE:MDT – Free Report) had its target price increased by Robert W. Baird from $90.00 to $91.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the medical technology company’s stock.
Other analysts have also recently issued reports about the stock. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Wednesday, February 12th. Barclays increased their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Wells Fargo & Company decreased their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Sanford C. Bernstein increased their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. decreased their price target 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. 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 assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $95.20.
View Our Latest Stock Analysis on Medtronic
Medtronic Price Performance
Shares of Medtronic stock opened at $87.05 on Wednesday. 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 stock has a market capitalization of $111.62 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 2.63 and a beta of 0.84. Medtronic has a 1-year low of $75.96 and a 1-year high of $93.08. The firm’s 50-day moving average price is $85.82 and its two-hundred day moving average price is $87.02.
Medtronic (NYSE:MDT – Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. The firm had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. On average, equities analysts predict that Medtronic will post 5.45 earnings per share for the current fiscal year.
Medtronic Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.22%. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.
Insiders Place Their Bets
In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the sale, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.
Institutional Investors Weigh In On Medtronic
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Medtronic by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company’s stock worth $9,921,367,000 after acquiring an additional 754,395 shares in the last quarter. State Street Corp increased its position in shares of Medtronic by 0.9% during the third quarter. State Street Corp now owns 60,731,367 shares of the medical technology company’s stock worth $5,509,155,000 after acquiring an additional 520,027 shares in the last quarter. Capital Research Global Investors increased its position in shares of Medtronic by 1.8% during the fourth quarter. Capital Research Global Investors now owns 33,203,685 shares of the medical technology company’s stock worth $2,652,310,000 after acquiring an additional 571,700 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Medtronic by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 27,056,217 shares of the medical technology company’s stock worth $2,155,085,000 after acquiring an additional 574,055 shares in the last quarter. Finally, Deutsche Bank AG increased its position in shares of Medtronic by 2.1% during the fourth quarter. Deutsche Bank AG now owns 18,443,640 shares of the medical technology company’s stock worth $1,473,278,000 after acquiring an additional 372,168 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.
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.
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