Geoffrey Martha Sells 19,113 Shares of Medtronic plc (NYSE:MDT) Stock

Medtronic plc (NYSE:MDTGet Free Report) CEO Geoffrey Martha sold 19,113 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $83.77, for a total transaction of $1,601,096.01. Following the transaction, the chief executive officer now directly owns 143,348 shares in the company, valued at $12,008,261.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Medtronic Stock Performance

Shares of NYSE MDT opened at $81.66 on Friday. The firm has a market capitalization of $108.43 billion, a price-to-earnings ratio of 29.69, a PEG ratio of 2.42 and a beta of 0.83. Medtronic plc has a one year low of $68.84 and a one year high of $91.00. The business has a fifty day simple moving average of $82.08 and a 200 day simple moving average of $83.43. The company has a current ratio of 2.03, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47.

Medtronic (NYSE:MDTGet Free Report) last announced its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.01. Medtronic had a net margin of 11.36% and a return on equity of 13.47%. The company had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter in the prior year, the company posted $1.57 EPS. The business’s revenue was up .5% on a year-over-year basis. Sell-side analysts expect that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.70 per share. This is a boost from Medtronic’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.43%. Medtronic’s dividend payout ratio (DPR) is currently 100.36%.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Friday, May 24th. Truist Financial reduced their price objective on shares of Medtronic from $90.00 to $88.00 and set a “hold” rating for the company in a research note on Friday, May 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a report on Wednesday, June 5th. Oppenheimer upped their price target on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 21st. Finally, UBS Group boosted their price objective on Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a research report on Friday, May 24th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $93.00.

Get Our Latest Analysis on MDT

Institutional Investors Weigh In On Medtronic

Several large investors have recently modified their holdings of MDT. Norges Bank acquired a new stake in Medtronic in the 4th quarter valued at $1,229,726,000. First Eagle Investment Management LLC boosted its stake in shares of Medtronic by 54.5% in the 4th quarter. First Eagle Investment Management LLC now owns 9,409,680 shares of the medical technology company’s stock valued at $775,169,000 after purchasing an additional 3,320,800 shares in the last quarter. Pzena Investment Management LLC grew its holdings in shares of Medtronic by 112.8% in the 3rd quarter. Pzena Investment Management LLC now owns 5,730,577 shares of the medical technology company’s stock worth $449,048,000 after purchasing an additional 3,037,394 shares during the last quarter. M&G Plc acquired a new stake in shares of Medtronic during the 1st quarter worth about $259,160,000. Finally, Capital Research Global Investors lifted its holdings in Medtronic by 7.1% during the 1st quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock valued at $2,691,577,000 after purchasing an additional 2,044,109 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Company Profile

(Get Free Report)

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.

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