Share on StockTwits

Medtronic (NYSE:MDT) Director Shirley A. Jackson unloaded 2,769 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $63.66, for a total transaction of $176,274.54. Following the transaction, the director now directly owns 28,178 shares of the company’s stock, valued at approximately $1,793,811. The sale was disclosed in a filing with the SEC, which is available at this link.

Shares of Medtronic (NYSE:MDT) traded down 0.25% during mid-day trading on Wednesday, hitting $63.36. The stock had a trading volume of 3,051,028 shares. Medtronic has a 52 week low of $51.22 and a 52 week high of $65.50. The stock has a 50-day moving average of $62.92 and a 200-day moving average of $60.87. The company has a market cap of $62.891 billion and a P/E ratio of 21.48. Medtronic also was the recipient of a large growth in short interest in August. As of August 15th, there was short interest totalling 64,165,550 shares, a growth of 5.2% from the July 31st total of 61,004,729 shares. Based on an average trading volume of 8,692,096 shares, the short-interest ratio is presently 7.4 days. Approximately 6.5% of the company’s stock are sold short.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 19th. The company reported $0.93 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.92 by $0.01. The company had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.25 billion. During the same quarter in the prior year, the company posted $0.88 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts expect that Medtronic will post $4.05 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Friday, October 24th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Wednesday, October 1st.

Several analysts have recently commented on the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Medtronic in a research note on Monday, August 18th. They now have a $71.00 price target on the stock, up previously from $69.00. Separately, analysts at Cowen and Company raised their price target on shares of Medtronic from $66.00 to $76.00 in a research note on Monday, August 18th. Finally, analysts at Jefferies Group upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a research note on Friday, June 20th. They now have a $75.00 price target on the stock, up previously from $60.00. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Medtronic currently has a consensus rating of “Buy” and a consensus target price of $68.24.

Medtronic, Inc (NYSE:MDT) is engaged in medical technology – alleviating pain, restoring health, and extending life for millions of people worldwide.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.