Medtronic Plc recently announced its quarterly dividend of $0.68 per share, which will be issued to stockholders of record on Friday, March 24th. The ex-dividend date of the dividend is Thursday, March 23rd. This represents an annualized dividend of $2.72 and a dividend yield of 3.43%. Medtronic is a medical technology company, engaged in the development, manufacture, distribution, and sale of device-based medical therapies and services. Insiders own 0.29% of the company’s stock, and major shareholder Plc Medtronic recently bought 6,835 shares of the stock. The company’s dividend payout ratio is currently 89.47%. Lastly, Medtronic has a consensus price target of $90.72 and is presently rated “Hold” according to data from MarketBeat.
Leavell Investment Management Inc. has decreased its stake in Medtronic plc (NYSE:MDT – Get Rating) by 4.6% in the fourth quarter, according to the company’s latest filing with the Securities and Exchange Commission. Other institutional investors and hedge funds have either increased or reduced their holdings in the company recently. Among them, Vanguard Group Inc. raised its stake in Medtronic by 0.9% in the 3rd quarter, BlackRock Inc. boosted its stake by 5.1% during the same period, State Street Corp increased its stake by 1.6%, Bank of New York Mellon Corp by 33.1%, and Royal Bank of Canada by 4.6%. Vanguard Group now owns 123,861,994 shares of Medtronic, worth $10,001,857,000 after purchasing an additional 1,056,995 shares. Meanwhile, BlackRock now owns 115,998,561 shares of the medical technology firm, worth $9,366,883,000 after purchasing an additional 5,620,477 shares. The majority of Medtronic’s stock (80.37%) is currently owned by institutional investors and hedge funds.
Medtronic plc’s stock opened at $79.37 on Friday and rose by 2.3%. The medical technology company’s stock has a 52-week low of $75.76 and a high of $114.31. Medtronic’s 50-day moving average price is $82.07, and its two-hundred-day moving average price is $81.97. The company’s market cap is $105.60 billion, with a P/E ratio of 26.11, a P/E/G ratio of 2.42, and a beta of 0.71. It has a quick ratio of 1.39, a current ratio of 1.76, and a debt-to-equity ratio of 0.43.
Medtronic (NYSE:MDT – Get Rating) announced its earnings results on Tuesday, February 21st, beating the consensus EPS estimate of $1.27 by $0.03 with earnings of $1.30 per share. The company also reported revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.53 billion. Medtronic’s net margin for the quarter was 13.20%, with a return on equity of 13.37%. While revenue for the quarter was down 0.8% on a year-over-year basis, analysts predict that Medtronic will post 5.28 EPS for the current year.
In terms of equity analysts’ opinions on MDT, one research analyst gave a sell rating, fourteen assigned a hold rating, and four assigned a buy rating to the company’s stock. Royal Bank of Canada downgraded shares of Medtronic from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $102.00 to $89.00. Meanwhile, Mizuho cut their target price on shares of Medtronic from $100.00 to $95.00 and set a “buy” rating for the company, and StockNews.com assumed coverage on shares of Medtronic and issued a “buy” rating for the company. Barclays also cut their target price on shares of Medtronic from $90.00 to $85.00 and set an “equal weight” rating for the firm. Wells Fargo & Company cut their target price on shares of Medtronic from $82.00 to $77.00 and set an “equal weight” rating for the company. According to data from MarketBeat, Medtronic currently has an average rating of “Hold” and a consensus price target of $90.72.
Medtronic has also recently announced a dividend.
Medtronic recently announced that it will pay a quarterly dividend on Friday, April 14th. The dividend of $0.68 per share will be issued to stockholders of record on Friday, March 24th. The ex-dividend date of the dividend is Thursday, March 23rd. This represents an annualized dividend of $2.72 and a dividend yield of 3.43%. The dividend payout ratio for Medtronic is currently 89.47%.
Insider transactions were also reported, with Plc Medtronic purchasing 6,835 shares of the stock at an average cost of $9.28 per share on Monday, January 30th. The insider now owns 4,999,423 shares of the company’s stock, valued at $46,394,645.44.
Medtronic Plc is a medical technology company engaged in the development, manufacture, distribution, and sale of device-based medical therapies and services. The company operates through four segments: Cardiovascular Porrtfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit.
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