Advyzon Investment Management LLC Buys New Stake in Medtronic plc (NYSE:MDT)

Advyzon Investment Management LLC purchased a new position in Medtronic plc (NYSE:MDT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,497 shares of the medical technology company's stock, valued at approximately $359,000.

A number of other hedge funds also recently bought and sold shares of MDT. Fortitude Family Office LLC purchased a new stake in shares of Medtronic during the third quarter worth about $27,000. Darwin Wealth Management LLC acquired a new stake in Medtronic in the 3rd quarter worth about $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic during the third quarter valued at approximately $27,000. J. Stern & Co. LLP acquired a new position in shares of Medtronic during the third quarter valued at approximately $30,000. Finally, Stephens Consulting LLC lifted its position in shares of Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

MDT has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price objective on Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a research note on Friday, November 15th. Royal Bank of Canada reissued an "outperform" rating and issued a $105.00 price target on shares of Medtronic in a research note on Wednesday. Truist Financial dropped their price objective on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a research note on Wednesday, December 18th. Sanford C. Bernstein raised their target price on shares of Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company cut their price target on Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $95.20.

Medtronic Trading Up 2.3 %

NYSE:MDT traded up $2.01 on Friday, reaching $89.95. 7,957,658 shares of the company's stock were exchanged, compared to its average volume of 7,464,932. The firm has a market capitalization of $115.34 billion, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 2.46 and a beta of 0.84. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $93.08. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The business has a fifty day moving average of $85.93 and a 200-day moving average of $87.03.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) 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 analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. As a group, analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic's dividend payout ratio is currently 85.11%.

Insider Activity

In other news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction on 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 of the company's stock, valued at approximately $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 accessible through the SEC website. Company insiders own 0.20% of the company's stock.

About Medtronic

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.