Brentview Investment Management LLC acquired a new position in shares of Medtronic plc (NYSE:MDT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 38,258 shares of the medical technology company's stock, valued at approximately $3,056,000. Medtronic accounts for approximately 1.7% of Brentview Investment Management LLC's holdings, making the stock its 29th largest holding.
A number of other hedge funds also recently bought and sold shares of the company. Fortitude Family Office LLC purchased a new stake in Medtronic in the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC purchased a new position in Medtronic in the third quarter valued at about $27,000. Darwin Wealth Management LLC acquired a new position in Medtronic in the 3rd quarter worth about $27,000. J. Stern & Co. LLP purchased a new stake in shares of Medtronic during the 3rd quarter worth about $30,000. Finally, Fiduciary Advisors Inc. acquired a new stake in shares of Medtronic during the 4th quarter valued at about $36,000. 82.06% of the stock is owned by hedge funds and other institutional investors.
Medtronic Stock Performance
Shares of MDT traded up $0.46 on Tuesday, reaching $90.99. 5,193,094 shares of the stock traded hands, compared to its average volume of 7,546,100. The stock's 50-day moving average price is $84.47 and its 200-day moving average price is $86.16. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The firm has a market cap of $116.67 billion, a price-to-earnings ratio of 27.82, a P/E/G ratio of 2.57 and a beta of 0.84. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08.
Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $8.27 billion. During the same quarter in the previous year, the firm posted $1.25 EPS. The business's revenue for the quarter was up 5.2% on a year-over-year basis. Equities analysts forecast that Medtronic plc will post 5.45 EPS for the current fiscal year.
Medtronic Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.08%. The ex-dividend date was Friday, December 27th. Medtronic's dividend payout ratio (DPR) is presently 85.63%.
Insiders Place Their Bets
In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company's stock.
Wall Street Analysts Forecast Growth
MDT has been the topic of several recent research reports. JPMorgan Chase & Co. cut their price objective on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a research report on Friday, November 15th. Royal Bank of Canada upgraded Medtronic from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Monday, November 18th. Robert W. Baird cut their target price on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating for the company in a research report on Wednesday, November 20th. Finally, Truist Financial dropped their price objective on Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $95.00.
Read Our Latest Report on MDT
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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