Investors Buy Large Volume of Medtronic Call Options (MDT)
Medtronic (NYSE:MDT) was the recipient of some unusual options trading activity on Tuesday. Stock investors purchased 12,825 call options on the company, Stock Ratings Network reports. This represents an increase of approximately 535% compared to the average daily volume of 2,020 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 research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $56.53.
Medtronic (NYSE:MDT) traded up 0.51% on Tuesday, hitting $53.52. 2,987,339 shares of the company’s stock traded hands. Medtronic has a 52 week low of $40.28 and a 52 week high of $55.98. The stock’s 50-day moving average is $53.39 and its 200-day moving average is $51.20. The company has a market cap of $53.384 billion and a P/E ratio of 15.35.
Medtronic (NYSE:MDT) last issued its quarterly earnings data 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 last year, the company posted $0.85 earnings per share. Medtronic’s revenue was up 1.9% compared to the same quarter last year. 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. 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 2.09%. 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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