1620 Investment Advisors Inc. Takes $522,000 Position in Medtronic plc (NYSE:MDT)

1620 Investment Advisors Inc. acquired a new position in Medtronic plc (NYSE:MDT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,530 shares of the medical technology company's stock, valued at approximately $522,000.

Several other institutional investors also recently modified their holdings of MDT. Mainstream Capital Management LLC acquired a new position in Medtronic during the 4th quarter worth about $26,000. Darwin Wealth Management LLC acquired a new position in shares of Medtronic in the 3rd quarter worth approximately $27,000. Stephens Consulting LLC boosted its stake in shares of Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 204 shares during the last quarter. Rakuten Securities Inc. increased its position in shares of Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after buying an additional 294 shares during the period. Finally, J. Stern & Co. LLP bought a new position in Medtronic during the third quarter worth $30,000. Institutional investors own 82.06% of the company's stock.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares of the company's stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.20% of the stock is owned by insiders.

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Analyst Upgrades and Downgrades

Several brokerages recently commented on MDT. Robert W. Baird upped their target price on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Barclays increased their price target on Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a report on Tuesday, November 26th. UBS Group lifted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and increased their target price for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Finally, Truist Financial decreased their price target on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $96.07.

Medtronic Stock Down 0.2 %

MDT traded down $0.17 during midday trading on Monday, reaching $90.16. 5,420,324 shares of the company were exchanged, compared to its average volume of 6,104,009. The company has a market cap of $115.64 billion, a price-to-earnings ratio of 27.40, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The company's fifty day moving average price is $90.84 and its 200 day moving average price is $88.05. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. The company had revenue of $8.29 billion for the quarter, compared to analysts' expectations of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. As a group, analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.70 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. Medtronic's dividend payout ratio is currently 85.11%.

Medtronic Company Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.