Medtronic Plc (NYSE:MDT) shares traded 0.33% higher at $85.92 on Wall Street last session.
MDT stock price is now 3.69% away from the 50-day moving average and 5.88% away from the 200-day moving average. The market capitalization of the company currently stands at $114.09B.
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With the price target of $90, Robert W. Baird recently initiated with Neutral rating for Medtronic Plc (NYSE: MDT). On June 30, 2023, CL King recently initiated its ‘Buy’ rating on the stock quoting a target price of $106, while ‘Morgan Stanley’ rates the stock as ‘Overweight’
In other news, Marinaro Michael, EVP & President, Surgical OU sold 854 shares of the company’s stock on Apr 08 ’24. The stock was sold for $71,002 at an average price of $83.14. Upon completion of the transaction, the EVP & President, Surgical OU now directly owns 27,925 shares in the company, valued at $2.4 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 21 ’24, EVP & President Cardiovascular Salmon Sean sold 30,695 shares of the business’s stock. A total of $2,613,055 was realized by selling the stock at an average price of $85.13. This leaves the insider owning 48,289 shares of the company worth $4.15 million. A total of 0.07% of the company’s stock is owned by insiders.
During the past 12 months, Medtronic Plc has had a low of $68.84 and a high of $91.00. As of last week, the company has a debt-to-equity ratio of 0.49, a current ratio of 2.30, and a quick ratio of 1.71.
According to the Medical Devices Company, earnings per share came in at 1.57, beating analysts’ expectations of 1.56 by 0.01. This compares to $0.92 EPS in the same period last year. The net profit margin was 13.00% and return on equity was 8.14% for MDT. The company reported revenue of $8.09 billion for the quarter, compared to $7.73 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 4.68 percent. For the current quarter, analysts expect MDT to generate $8.44B in revenue.
