Kathmere Capital Management LLC purchased a new position in shares of Medtronic plc (NYSE:MDT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,641 shares of the medical technology company's stock, valued at approximately $291,000.
Other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in shares of Medtronic in the 3rd quarter valued at $27,000. Darwin Wealth Management LLC purchased a new position in Medtronic during the 3rd quarter worth $27,000. Highline Wealth Partners LLC acquired a new position in Medtronic in the third quarter valued at $27,000. J. Stern & Co. LLP purchased a new stake in shares of Medtronic in the third quarter valued at about $30,000. Finally, Chelsea Counsel Co. purchased a new stake in shares of Medtronic in the third quarter valued at about $45,000. Institutional investors and hedge funds own 82.06% of the company's stock.
Medtronic Trading Up 1.2 %
Medtronic stock traded up $1.07 during trading on Friday, hitting $88.23. The company's stock had a trading volume of 9,577,939 shares, compared to its average volume of 8,494,167. The stock's fifty day moving average is $83.63 and its 200 day moving average is $85.03. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $92.68. The stock has a market capitalization of $113.13 billion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 2.28 and a beta of 0.83. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.
Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company had revenue of $8.40 billion during the quarter, compared to analysts' expectations of $8.27 billion. During the same quarter in the previous year, the business earned $1.25 EPS. The firm's revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts predict that Medtronic plc will post 5.45 EPS for the current year.
Medtronic Announces Dividend
The business also recently declared 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 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date was Friday, December 27th. Medtronic's dividend payout ratio is currently 85.63%.
Insider Buying and Selling at Medtronic
In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the company's stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the sale, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on MDT. Barclays boosted their price target on Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a research report on Tuesday, November 26th. Sanford C. Bernstein boosted their target price on Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. decreased their price target on Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a report on Friday, November 15th. Truist Financial lowered their price objective on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada upgraded shares of Medtronic from a "sector perform" rating to an "outperform" rating and upped their price objective for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $95.00.
Check Out Our Latest Stock Report on Medtronic
Medtronic Profile
(
Free Report)
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.
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