Certior Financial Group LLC Takes $266,000 Position in Medtronic plc (NYSE:MDT)

Certior Financial Group LLC bought a new position in Medtronic plc (NYSE:MDT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,328 shares of the medical technology company's stock, valued at approximately $266,000.

A number of other large investors have also made changes to their positions in MDT. Copley Financial Group Inc. bought a new stake in Medtronic in the third quarter worth $694,000. Franklin Street Advisors Inc. NC raised its position in shares of Medtronic by 32.6% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company's stock valued at $5,873,000 after purchasing an additional 18,057 shares during the period. Y Intercept Hong Kong Ltd raised its holdings in Medtronic by 322.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company's stock worth $6,626,000 after acquiring an additional 56,178 shares during the period. Olstein Capital Management L.P. boosted its holdings in Medtronic by 8.0% during the fourth quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company's stock valued at $7,509,000 after acquiring an additional 7,000 shares during the period. Finally, Czech National Bank increased its stake in shares of Medtronic by 6.4% in the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company's stock worth $22,212,000 after purchasing an additional 16,786 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Trading Down 2.8 %

Shares of MDT stock traded down $2.40 on Thursday, reaching $82.88. The company had a trading volume of 3,504,839 shares, compared to its average volume of 6,651,144. The company has a 50-day moving average of $90.04 and a 200-day moving average of $87.74. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The stock has a market cap of $106.30 billion, a PE ratio of 25.06, a PEG ratio of 2.22 and a beta of 0.79. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48.

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Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 12.83% and a return on equity of 14.07%. On average, equities analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Friday, March 28th. Medtronic's dividend payout ratio is 85.11%.

Insider Transactions at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, the executive vice president now owns 40,979 shares of the company's stock, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on MDT. Robert W. Baird increased their price objective on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. UBS Group upped their target price on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Truist Financial reduced their price objective on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, December 18th. Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and raised their target price for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $96.07.

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.