Medtronic (NYSE:MDT) Trading Down 1.1% – Time to Sell?

Medtronic plc (NYSE:MDT) traded down 1.1% on Monday . The company traded as low as $85.08 and last traded at $85.29. 1,463,366 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 6,252,047 shares. The stock had previously closed at $86.21.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MDT shares. Robert W. Baird lowered their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. JPMorgan Chase & Co. lowered their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Barclays upped their target price on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday. Truist Financial raised their price target on Medtronic from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, October 14th. Finally, Evercore ISI upped their price objective on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. One research 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. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $95.27.

Medtronic Stock Up 0.7 %

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The company has a market capitalization of $110.66 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 2.43 and a beta of 0.84. The firm’s 50-day simple moving average is $88.81 and its 200 day simple moving average is $84.96.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MDT. Fortitude Family Office LLC acquired a new position in Medtronic during the third quarter worth about $27,000. Darwin Wealth Management LLC acquired a new position in shares of Medtronic during the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic during the 3rd quarter worth approximately $27,000. J. Stern & Co. LLP purchased a new stake in Medtronic in the 3rd quarter valued at approximately $30,000. Finally, Lynx Investment Advisory acquired a new stake in Medtronic during the 2nd quarter valued at $28,000. 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.