Medtronic plc (NYSE:MDT) Chairman Sells $82,709.20 in Stock

Medtronic plc (NYSE:MDT) Chairman Omar Ishrak sold 763 shares of the business’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $108.40, for a total value of $82,709.20. Following the completion of the transaction, the chairman now owns 561,032 shares in the company, valued at approximately $60,815,868.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of MDT stock opened at $110.13 on Friday. Medtronic plc has a 12-month low of $72.13 and a 12-month high of $122.15. The firm has a market capitalization of $148.04 billion, a price-to-earnings ratio of 33.68, a price-to-earnings-growth ratio of 3.56 and a beta of 0.67. The business has a 50 day simple moving average of $105.71 and a 200 day simple moving average of $98.59. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.87 and a quick ratio of 1.53.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 25th. The medical technology company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.41. Medtronic had a return on equity of 10.47% and a net margin of 15.80%. The business had revenue of $6.51 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same period in the prior year, the company posted $1.26 EPS. The business’s revenue for the quarter was down 13.2% compared to the same quarter last year. On average, equities analysts anticipate that Medtronic plc will post 3.94 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, September 25th were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Thursday, September 24th. Medtronic’s payout ratio is currently 50.54%.

Several research firms recently commented on MDT. Citigroup boosted their price target on Medtronic from $108.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, August 26th. Zacks Investment Research cut Medtronic from a “hold” rating to a “strong sell” rating and set a $84.00 price objective on the stock. in a research note on Wednesday, July 29th. Stifel Nicolaus upgraded Medtronic from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Thursday, October 8th. Piper Sandler restated a “buy” rating and set a $120.00 price objective on shares of Medtronic in a research note on Tuesday, August 11th. Finally, Wolfe Research started coverage on Medtronic in a research note on Friday, September 11th. They set a “peer perform” rating and a $115.00 price objective on the stock. Three analysts have rated the stock with a sell rating, three have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Medtronic has a consensus rating of “Buy” and a consensus price target of $116.69.

A number of hedge funds and other institutional investors have recently modified their holdings of MDT. State Street Corp boosted its stake in Medtronic by 0.8% during the 1st quarter. State Street Corp now owns 58,302,592 shares of the medical technology company’s stock valued at $5,288,879,000 after purchasing an additional 439,413 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in Medtronic by 260.9% during the 1st quarter. Loomis Sayles & Co. L P now owns 11,473 shares of the medical technology company’s stock valued at $1,034,000 after purchasing an additional 8,294 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its stake in Medtronic by 6.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 93,907 shares of the medical technology company’s stock valued at $8,469,000 after purchasing an additional 5,996 shares in the last quarter. HBK Sorce Advisory LLC boosted its stake in Medtronic by 8.4% during the 1st quarter. HBK Sorce Advisory LLC now owns 8,360 shares of the medical technology company’s stock valued at $754,000 after purchasing an additional 649 shares in the last quarter. Finally, Claro Advisors LLC boosted its stake in Medtronic by 4.9% during the 1st quarter. Claro Advisors LLC now owns 2,503 shares of the medical technology company’s stock valued at $226,000 after purchasing an additional 118 shares in the last quarter. 79.90% of the stock is owned by hedge funds and other institutional investors.

Medtronic Company Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Insider Buying and Selling by Quarter for Medtronic (NYSE:MDT)

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