Medtronic is a global medical technology company that provides device-based medical therapies and services through four main segments. The company recently reported $1.30 earnings per share for the quarter, and research analysts predict that it will post 5.28 EPS for the current year. Medtronic has declared a quarterly dividend of $0.68, payable to shareholders of record on Friday, March 24th. The company has a dividend payout ratio of 89.47%. Wall Street analysts have recently provided ratings and target prices for the stock, with an average rating of “Hold” and an average target price of $90.72. To stay updated with the latest news and ratings for Medtronic, you can sign up for MarketBeat.com’s free daily email newsletter.
Continental Investors Services Inc. Invests $397,000 in Medtronic plc (NYSE:MDT)
Continental Investors Services Inc. recently invested $397,000 in Medtronic plc (NYSE:MDT), according to the company’s latest disclosure with the Securities…. It is reported that several other major investors have also recently purchased and sold shares of the stock.
Perigon Wealth Management LLC, for instance, increased its stake in Medtronic by 4.5% in the third quarter, and now owns 5,432 shares of the medical technology company’s stock, valued at $439,000 after acquiring an additional 234 shares in the last quarter. WealthPlan Investment Management LLC also acquired a new position in shares of Medtronic in the third quarter, worth approximately $14,353,000.
EP Wealth Advisors LLC grew its position in Medtronic by 48.4% during the same period, and now owns 11,769 shares of the company’s stock, valued at $950,000 after acquiring an additional 3,836 shares during the last quarter. Similarly, CVA Family Office LLC increased its holdings in Medtronic by 71.9% during the third quarter, and now owns 8,690 shares of the stock, valued at $702,000 after purchasing an additional 3,636 shares in the last quarter.
Lastly, IHT Wealth Management LLC raised its position in Medtronic by 21.5% during the third quarter, owning 8,533 shares of the stock valued at $689,000 after purchasing an additional 1,509 shares during the last quarter. As of now, institutional investors own 80.37% of the stock.
In other news, major shareholder Plc Medtronic purchased 6,835 shares of the company’s stock in a transaction dated January 30th, 2023. The shares were bought at an average cost of $9.28 per share, for a total transaction of $63,428.80. Following the acquisition, the insider now directly owns 4,999,423 shares in the company, valued at approximately $46,394,645.44. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. As of now, insiders own 0.29% of the stock.
Medtronic Stock Performance
Shares of Medtronic stock (NYSE:MDT) opened at $78.29 on Friday. The company has a market capitalization of $104.16 billion, a PE ratio of 25.75, a PEG ratio of 2.37, and a beta of 0.71. The stock’s fifty-day simple moving average is $82.06 and its 200-day simple moving average is $82.22.
The company has a current ratio of 1.76 and a quick ratio of 1.39. Furthermore, its debt-to-equity ratio is 0.43. Medtronic plc has a 12-month low of $75.76 and a 12-month high of $114.31.
Medtronic’s Quarterly Earnings Results
Medtronic (NYSE:MDT – Get Rating) recently announced its quarterly earnings results on Tuesday, February 21st. For the quarter, the medical technology company posted $1.30 earnings per share (EPS), beating the consensus estimate of $1.27 by $0.03. Medtronic had a return on equity of 13.37% and a net margin of 13.20%. The company generated revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.53 billion. However, the company’s revenue for the quarter was down 0.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.37 earnings per share. On average, research analysts predict that Medtronic plc will post 5.28 EPS for the current year.
Medtronic Dividend Announcement
In addition to its quarterly earnings results, Medtronic recently declared a quarterly dividend, which will be paid on Friday, April 14th. The dividend of $0.68 per share will be issued to stockholders of record on Friday, March 24th. This represents a $2.72 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Thursday, March 23rd. Currently, Medtronic’s dividend payout ratio (DPR) is 89.47%.
Wall Street Analysts Forecast Growth
Several brokerages have recently given their opinion on MDT. Cowen lowered their target price on Medtronic from $117.00 to $90.00 in a research note on Wednesday, November 23rd. Mizuho reduced their target price on shares of Medtronic from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday, January 24th.
Wells Fargo & Company lowered their price target on shares of Medtronic from $82.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, November 30th. Additionally, Royal Bank of Canada downgraded Medtronic from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $102.00 to $89.00 in a report on Monday, January 9th.
Finally, Morgan Stanley also lowered their target price on Medtronic from $97.00 to $88.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 23rd. According to data from MarketBeat.com, one analyst has rated the stock with a sell rating, fourteen have given a hold rating, and four have assigned a buy rating to the company’s stock. The average rating for Medtronic’s stock is “Hold,” and the average target price is $90.72.
Medtronic Profile
Medtronic (Get Rating) is a medical technology company that specializes in the development and production of medical devices. The company operates in over 150 countries worldwide and provides products and services
Medtronic’s Medical Technology Offerings
Medtronic Plc is a global medical technology company that focuses on developing, manufacturing, distributing, and selling device-based medical therapies and services. The company operates through four segments, namely Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit.
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