Insider Selling: Catherine M. Szyman Unloads 29,420 Shares of Medtronic Stock (MDT)
Medtronic (NYSE:MDT) VP Catherine M. Szyman unloaded 29,420 shares of the stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $58.79, for a total transaction of $1,729,601.80. Following the completion of the sale, the vice president now directly owns 21,602 shares of the company’s stock, valued at approximately $1,269,982. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Medtronic (NYSE:MDT) traded up 0.67% during mid-day trading on Monday, hitting $58.94. The stock had a trading volume of 3,851,560 shares. Medtronic has a 52 week low of $45.41 and a 52 week high of $62.90. The stock’s 50-day moving average is $59.78 and its 200-day moving average is $57.69. The company has a market cap of $58.988 billion and a P/E ratio of 16.63.
Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.91 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.91. The company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.15 billion. Analysts expect that Medtronic will post $3.82 EPS for the current fiscal year.
A number of research firms have recently commented on MDT. Analysts at Deutsche Bank cut their price target on shares of Medtronic from $70.00 to $68.00 in a research note on Monday, April 14th. Separately, analysts at Bank of America reiterated a “buy” rating on shares of Medtronic in a research note on Monday, April 14th. They now have a $66.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. downgraded shares of Medtronic from an “overweight” rating to a “neutral” rating in a research note on Monday, April 14th. They now have a $64.00 price target on the stock, down previously from $69.00. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $62.53.
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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