Empirical Asset Management LLC Takes Position in Medtronic plc (NYSE:MDT)

Empirical Asset Management LLC acquired a new stake in Medtronic plc (NYSE:MDT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 19,277 shares of the medical technology company's stock, valued at approximately $1,540,000.

Several other hedge funds have also recently modified their holdings of the stock. Fortitude Family Office LLC acquired a new position in shares of Medtronic in the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Medtronic during the third quarter worth approximately $27,000. Darwin Wealth Management LLC purchased a new stake in Medtronic in the 3rd quarter valued at approximately $27,000. J. Stern & Co. LLP acquired a new stake in shares of Medtronic in the third quarter valued at about $30,000. Finally, Kieckhefer Group LLC acquired a new stake in Medtronic in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Stock Performance

MDT stock traded up $1.07 during midday trading on Friday, reaching $88.23. 9,577,939 shares of the company were exchanged, compared to its average volume of 5,401,241. The business has a 50-day moving average price of $83.64 and a two-hundred day moving average price of $85.10. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The firm has a market capitalization of $113.13 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 2.28 and a beta of 0.83. Medtronic plc has a one year low of $75.96 and a one year high of $92.68.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.01. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.25 EPS. Equities research analysts forecast that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.17%. The ex-dividend date was Friday, December 27th. Medtronic's payout ratio is presently 85.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MDT shares. JPMorgan Chase & Co. decreased their target price on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a research report on Friday, November 15th. Truist Financial dropped their target price on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a research report on Wednesday, December 18th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research report on Monday, November 18th. Sanford C. Bernstein increased their price target on Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 20th. Finally, Barclays lifted their target price on Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $95.00.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the business's stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the sale, the executive vice president now owns 40,708 shares of the company's stock, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.20% of the company's stock.

Medtronic 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.