Flavin Financial Services Inc. purchased a new stake in Medtronic plc (NYSE:MDT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,052 shares of the medical technology company's stock, valued at approximately $324,000.
A number of other large investors also recently modified their holdings of the stock. Fortitude Family Office LLC acquired a new stake in shares of Medtronic during the third quarter worth $27,000. Highline Wealth Partners LLC bought a new position in shares of Medtronic in the 3rd quarter valued at about $27,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic during the 3rd quarter worth about $27,000. J. Stern & Co. LLP bought a new stake in shares of Medtronic during the 3rd quarter worth about $30,000. Finally, Fiduciary Advisors Inc. acquired a new stake in Medtronic in the 4th quarter worth about $36,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the stock. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research report on Monday, November 18th. JPMorgan Chase & Co. reduced their price objective on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a research note on Friday, November 15th. Sanford C. Bernstein boosted their target price on shares of Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a research report on Wednesday, November 20th. Robert W. Baird lowered their price objective on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating on the stock in a report on Wednesday, November 20th. Finally, Truist Financial lowered their target price 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Medtronic presently has a consensus rating of "Hold" and an average price target of $95.00.
Check Out Our Latest Report on Medtronic
Medtronic Trading Up 0.5 %
NYSE:MDT traded up $0.46 on Tuesday, hitting $90.99. The stock had a trading volume of 5,193,094 shares, compared to its average volume of 7,546,100. The company has a fifty day moving average price of $84.47 and a two-hundred day moving average price of $86.16. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $93.08. The stock has a market cap of $116.67 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 2.57 and a beta of 0.84.
Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the prior year, the firm earned $1.25 EPS. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts expect that Medtronic plc will post 5.45 earnings per share for the current fiscal year.
Medtronic Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.08%. The ex-dividend date was Friday, December 27th. Medtronic's dividend payout ratio (DPR) is presently 85.63%.
Insider Transactions at Medtronic
In other news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.20% of the company's stock.
About Medtronic
(
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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