Medtronic (NYSE:MDT) Trading Down 0.7% – Should You Sell?

Medtronic plc (NYSE:MDT) fell 0.7% during mid-day trading on Tuesday . The company traded as low as $85.10 and last traded at $85.13. 1,153,874 shares were traded during trading, a decline of 82% from the average session volume of 6,268,986 shares. The stock had previously closed at $85.75.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MDT shares. Oppenheimer upped their target price on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a report on Wednesday, August 21st. Stifel Nicolaus raised their target price on Medtronic from $85.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Piper Sandler lifted their target price on Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Citigroup increased their price target on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $95.27.

Medtronic Stock Up 0.7 %

The stock’s 50-day moving average price is $88.81 and its two-hundred day moving average price is $84.96. 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 $110.66 billion, a P/E ratio of 26.39, a P/E/G ratio of 2.43 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. Medtronic’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, research analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Medtronic

Several large investors have recently added to or reduced their stakes in MDT. iA Global Asset Management Inc. purchased a new stake in shares of Medtronic during the 1st quarter valued at approximately $513,000. Citizens Financial Group Inc. RI lifted its position in shares of Medtronic by 15.4% during the first quarter. Citizens Financial Group Inc. RI now owns 3,518 shares of the medical technology company’s stock worth $307,000 after acquiring an additional 470 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Medtronic during the first quarter worth $327,000. Swedbank AB bought a new position in shares of Medtronic in the first quarter worth $49,313,000. Finally, First City Capital Management Inc. grew its position in shares of Medtronic by 11.2% in the first quarter. First City Capital Management Inc. now owns 4,979 shares of the medical technology company’s stock valued at $434,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Company Profile

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.