Medtronic PLC (NYSE:MDT) CFO Karen L. Parkhill purchased 3,000 shares of the firm’s stock in a transaction on Wednesday, January 9th. The shares were acquired at an average cost of $83.87 per share, for a total transaction of $251,610.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Medtronic stock opened at $84.84 on Friday. The stock has a market cap of $118.36 billion, a PE ratio of 17.79, a PEG ratio of 2.29 and a beta of 0.93. Medtronic PLC has a twelve month low of $76.41 and a twelve month high of $100.15. The company has a quick ratio of 2.11, a current ratio of 2.56 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 20th. The medical technology company reported $1.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.07. The company had revenue of $7.48 billion during the quarter, compared to analyst estimates of $7.35 billion. Medtronic had a return on equity of 13.51% and a net margin of 7.44%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.07 earnings per share. Analysts anticipate that Medtronic PLC will post 5.13 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 18th. Investors of record on Friday, December 28th will be given a $0.50 dividend. The ex-dividend date is Thursday, December 27th. This represents a $2.00 annualized dividend and a yield of 2.36%. Medtronic’s dividend payout ratio is currently 41.93%.

A number of equities research analysts have commented on MDT shares. JPMorgan Chase & Co. raised Medtronic from a “neutral” rating to an “overweight” rating and raised their price target for the company from $100.00 to $109.00 in a report on Wednesday, December 19th. Oppenheimer reissued a “buy” rating and set a $104.00 price target on shares of Medtronic in a report on Tuesday, November 20th. Zacks Investment Research raised Medtronic from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a report on Tuesday, October 23rd. Barclays decreased their price target on Medtronic from $113.00 to $104.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, ValuEngine cut Medtronic from a “buy” rating to a “hold” rating in a report on Monday. Nine analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $104.38.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Highwater Wealth Management LLC purchased a new position in Medtronic in the fourth quarter worth about $39,000. IMS Capital Management purchased a new position in Medtronic in the third quarter worth about $41,000. Cornerstone Advisors Inc. grew its position in Medtronic by 12.2% in the third quarter. Cornerstone Advisors Inc. now owns 1,165 shares of the medical technology company’s stock worth $115,000 after acquiring an additional 127 shares in the last quarter. Polaris Greystone Financial Group LLC grew its position in Medtronic by 255.1% in the third quarter. Polaris Greystone Financial Group LLC now owns 1,321 shares of the medical technology company’s stock worth $130,000 after acquiring an additional 949 shares in the last quarter. Finally, Amussen Hunsaker Associates LLC grew its position in Medtronic by 87.4% in the third quarter. Amussen Hunsaker Associates LLC now owns 1,535 shares of the medical technology company’s stock worth $141,000 after acquiring an additional 716 shares in the last quarter. Institutional investors own 80.79% of the company’s stock.

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About Medtronic

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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