Medtronic Sees Unusually High Options Volume (MDT)
Medtronic (NYSE:MDT) was the recipient of unusually large options trading on Monday. Investors acquired 5,548 call options on the company, Analyst Ratings.Net reports. This is an increase of approximately 281% compared to the average volume of 1,455 call options.
MDT has been the subject of a number of recent research reports. 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. Fourteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $56.53.
Medtronic (NYSE:MDT) traded up 0.47% during mid-day trading on Monday, hitting $53.25. 5,588,261 shares of the company’s stock traded hands. Medtronic has a 1-year low of $40.28 and a 1-year high of $55.98. The stock’s 50-day moving average is $53.45 and its 200-day moving average is $51.07. The company has a market cap of $53.115 billion and a P/E ratio of 15.27.
Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 20th. The company reported $0.88 earnings per share (EPS) for the quarter, meeting the 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 previous year, the company posted $0.85 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, analysts predict that Medtronic will post $3.82 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 25th. Investors 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 2.10%. 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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