Traders sold shares of Medtronic plc. (NYSE:MDT) on strength during trading hours on Monday. $47.94 million flowed into the stock on the tick-up and $139.89 million flowed out of the stock on the tick-down, for a money net flow of $91.95 million out of the stock. Of all companies tracked, Medtronic had the 0th highest net out-flow for the day. Medtronic traded up $0.15 for the day and closed at $83.30
Several research firms recently weighed in on MDT. Citigroup restated a “buy” rating and issued a $93.00 target price (down from $100.00) on shares of Medtronic in a report on Thursday, February 22nd. TheStreet lowered Medtronic from a “b” rating to a “c+” rating in a report on Tuesday, February 20th. Oppenheimer restated a “buy” rating and issued a $94.00 target price on shares of Medtronic in a report on Tuesday, February 20th. Royal Bank of Canada restated an “outperform” rating and issued a $92.00 target price on shares of Medtronic in a report on Wednesday, February 14th. Finally, Morgan Stanley boosted their target price on Medtronic from $91.00 to $95.00 and gave the stock an “equal weight” rating in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $91.50.
The stock has a market capitalization of $112,902.58, a price-to-earnings ratio of 17.76, a P/E/G ratio of 2.36 and a beta of 0.97. The company has a quick ratio of 2.09, a current ratio of 2.43 and a debt-to-equity ratio of 0.51.
Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.01. Medtronic had a return on equity of 12.65% and a net margin of 9.44%. The company had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.20 billion. During the same period in the previous year, the company earned $1.12 earnings per share. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. research analysts anticipate that Medtronic plc. will post 4.75 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 23rd will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Thursday, March 22nd. Medtronic’s dividend payout ratio is presently 90.64%.
In other news, EVP Hooman Hakami sold 26,158 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $85.00, for a total transaction of $2,223,430.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Richard Kuntz sold 78,526 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total value of $6,769,726.46. Following the sale, the vice president now owns 149,761 shares in the company, valued at $12,910,895.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 145,163 shares of company stock worth $12,232,045. 0.31% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. We Are One Seven LLC bought a new stake in shares of Medtronic during the fourth quarter valued at approximately $104,000. BB&T Investment Services Inc. increased its position in shares of Medtronic by 147.6% during the fourth quarter. BB&T Investment Services Inc. now owns 1,518 shares of the medical technology company’s stock valued at $126,000 after purchasing an additional 905 shares during the period. Blue Chip Partners Inc. bought a new stake in shares of Medtronic during the third quarter valued at approximately $118,000. Quadrant Capital Group LLC increased its position in shares of Medtronic by 21.5% during the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock valued at $114,000 after purchasing an additional 290 shares during the period. Finally, Westwood Holdings Group Inc. bought a new stake in Medtronic in the second quarter valued at $151,000. Institutional investors and hedge funds own 80.79% of the company’s stock.
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Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.
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