Insider Selling: Medtronic CEO Unloads 10,000 Shares of Stock (MDT)
Medtronic (NYSE:MDT) CEO Omar Ishrak sold 10,000 shares of the stock on the open market in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $53.58, for a total value of $535,800.00. Following the sale, the chief executive officer now directly owns 611,713 shares of the company’s stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on MDT shares. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Medtronic (NYSE:MDT) in a research note to investors on Thursday, August 22nd. They now have a $56.00 price target on the stock, up previously from $55.00. Separately, analysts at Barclays Capital raised their price target on shares of Medtronic (NYSE:MDT) from $54.00 to $56.00 in a research note to investors on Wednesday, August 21st. They now have an “equal weight” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Medtronic (NYSE:MDT) in a research note to investors on Wednesday, August 21st. They now have a $55.00 price target on the stock.
Fifteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Medtronic currently has an average rating of “Hold” and an average target price of $56.53.
Shares of Medtronic (NYSE:MDT) traded up 0.90% on Monday, hitting $54.06. The stock had a trading volume of 2,522,685 shares. Medtronic has a 52-week low of $40.28 and a 52-week high of $55.98. The stock has a 50-day moving average of $53.95 and a 200-day moving average of $50.48. The company has a market cap of $53.923 billion and a price-to-earnings ratio of 15.44.
Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $0.88 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.88. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.11 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. Analysts expect that Medtronic will post $3.83 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Wednesday, October 2nd.
Medtronic, Inc (NYSE:MDT) is engaged in medical technology – alleviating pain, restoring health, and extending life for millions of people worldwide.
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