Adams Diversified Equity Fund Inc. acquired a new stake in shares of Medtronic plc (NYSE:MDT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 192,900 shares of the medical technology company's stock, valued at approximately $15,409,000.
Several other institutional investors and hedge funds have also modified their holdings of MDT. Mainstream Capital Management LLC bought 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 during the third quarter worth about $27,000. Stephens Consulting LLC grew its holdings in shares of Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after buying an additional 204 shares in the last quarter. Rakuten Securities Inc. raised its position in Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after buying an additional 294 shares during the last quarter. Finally, J. Stern & Co. LLP bought a new stake in Medtronic in the 3rd quarter valued at approximately $30,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Medtronic
In other Medtronic 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 value of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently commented on MDT shares. Royal Bank of Canada reissued an "outperform" rating and issued a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. Robert W. Baird boosted their price target on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Barclays lifted their target price on Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a research report on Tuesday, November 26th. Finally, Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and increased their price target for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $96.07.
Check Out Our Latest Research Report on Medtronic
Medtronic Stock Performance
MDT stock 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 firm has a market capitalization 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. The business has a 50-day moving average price of $90.84 and a two-hundred day moving average price of $88.05. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39.
Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Equities research analysts forecast that Medtronic plc will post 5.46 EPS for the current year.
Medtronic Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.11%. Medtronic's dividend payout ratio (DPR) is presently 85.11%.
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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