Medtronic plc (NYSE:MDT) Shares Bought by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft boosted its stake in Medtronic plc (NYSE:MDT - Free Report) by 61.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 20,393 shares of the medical technology company's stock after acquiring an additional 7,780 shares during the quarter. Baader Bank Aktiengesellschaft's holdings in Medtronic were worth $1,629,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MDT. Fortitude Family Office LLC acquired a new stake in shares of Medtronic during the 3rd quarter worth about $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic during the 3rd quarter worth about $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic during the 3rd quarter worth about $27,000. J. Stern & Co. LLP acquired a new stake in shares of Medtronic during the 3rd quarter worth about $30,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Medtronic during the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Insider Buying and Selling at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of the company's stock in a transaction that occurred on 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 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 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 company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MDT. JPMorgan Chase & Co. cut their price objective on Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a research report on Friday, November 15th. Sanford C. Bernstein lifted their target price on Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a research report on Wednesday, November 20th. 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. Truist Financial lowered their price objective on Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a research report on Wednesday, December 18th. Finally, Robert W. Baird lowered their price objective on Medtronic from $96.00 to $93.00 and set a "neutral" rating for the company in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Medtronic has a consensus rating of "Hold" and a consensus target price of $95.00.

Medtronic Stock Up 1.0 %

MDT stock traded up $0.88 during trading on Thursday, hitting $92.29. 3,117,625 shares of the company's stock were exchanged, compared to its average volume of 7,667,416. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $93.08. The business has a 50-day moving average price of $84.14 and a two-hundred day moving average price of $85.87. The stock has a market capitalization of $118.34 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 2.49 and a beta of 0.83.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates 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 earnings per share. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities research analysts expect that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic's dividend payout ratio is currently 85.63%.

Medtronic Company 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.