Medtronic plc. (NYSE:MDT) Director James T. Lenehan sold 1,306 shares of the stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $83.56, for a total transaction of $109,129.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of MDT stock opened at $77.64 on Friday. Medtronic plc. has a 52 week low of $76.41 and a 52 week high of $89.72. The company has a current ratio of 2.43, a quick ratio of 2.09 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $108,023.23, a PE ratio of 16.88, a price-to-earnings-growth ratio of 2.24 and a beta of 0.94.
Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 20th. The medical technology company reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.01. Medtronic had a net margin of 9.44% and a return on equity of 12.65%. The business had revenue of $7.37 billion for the quarter, compared to the consensus estimate of $7.20 billion. During the same quarter last year, the firm posted $1.12 EPS. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. equities analysts expect that Medtronic plc. will post 4.74 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Friday, March 23rd will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Thursday, March 22nd. Medtronic’s dividend payout ratio (DPR) is 40.00%.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Medtronic by 6.4% during the 4th quarter. BlackRock Inc. now owns 94,595,580 shares of the medical technology company’s stock worth $7,638,592,000 after buying an additional 5,688,180 shares during the period. Artisan Partners Limited Partnership increased its stake in Medtronic by 1.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 23,853,034 shares of the medical technology company’s stock worth $1,855,050,000 after buying an additional 269,814 shares during the period. Geode Capital Management LLC increased its stake in Medtronic by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 14,191,675 shares of the medical technology company’s stock worth $1,143,549,000 after buying an additional 351,256 shares during the period. Wells Fargo & Company MN increased its stake in Medtronic by 6.3% during the 4th quarter. Wells Fargo & Company MN now owns 13,159,777 shares of the medical technology company’s stock worth $1,062,652,000 after buying an additional 781,446 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Medtronic by 20.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 11,388,438 shares of the medical technology company’s stock worth $885,673,000 after buying an additional 1,954,535 shares during the period. 81.22% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on MDT shares. Bank of America upgraded shares of Medtronic from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Oppenheimer reaffirmed a “buy” rating on shares of Medtronic in a research note on Thursday, December 21st. Argus raised shares of Medtronic from a “hold” rating to a “buy” rating and increased their price target for the stock from $81.27 to $95.00 in a research note on Tuesday, December 12th. They noted that the move was a valuation call. Citigroup reaffirmed a “buy” rating and set a $93.00 price target (down previously from $100.00) on shares of Medtronic in a research note on Thursday, February 22nd. Finally, TheStreet downgraded shares of Medtronic from a “b” rating to a “c+” rating in a research note on Tuesday, February 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $91.24.
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Medtronic Company Profile
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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