6,134 Shares in Medtronic plc (NYSE:MDT) Acquired by Bryce Point Capital LLC

Bryce Point Capital LLC acquired a new stake in Medtronic plc (NYSE:MDT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,134 shares of the medical technology company's stock, valued at approximately $490,000.

Several other institutional investors have also added to or reduced their stakes in MDT. Ascent Group LLC acquired a new position in Medtronic during the 3rd quarter worth approximately $476,000. Integrated Wealth Concepts LLC raised its stake in Medtronic by 2.7% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 48,248 shares of the medical technology company's stock worth $4,344,000 after buying an additional 1,248 shares during the period. IHT Wealth Management LLC grew its position in Medtronic by 34.2% in the 3rd quarter. IHT Wealth Management LLC now owns 27,145 shares of the medical technology company's stock valued at $2,444,000 after purchasing an additional 6,917 shares during the period. Morse Asset Management Inc acquired a new position in Medtronic during the third quarter worth $225,000. Finally, Royal London Asset Management Ltd. lifted its stake in shares of Medtronic by 1.6% in the third quarter. Royal London Asset Management Ltd. now owns 561,578 shares of the medical technology company's stock valued at $50,559,000 after buying an additional 8,907 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Performance

Shares of MDT stock traded down $5.03 on Friday, hitting $82.86. 12,031,524 shares of the stock were exchanged, compared to its average volume of 6,603,479. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The firm's 50 day moving average is $90.87 and its two-hundred day moving average is $87.94. The firm has a market capitalization of $106.28 billion, a PE ratio of 25.19, a P/E/G ratio of 2.22 and a beta of 0.80. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48.

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Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion during 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%. Sell-side analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.38%. Medtronic's dividend payout ratio (DPR) is currently 85.11%.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business's stock in a transaction that occurred on 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 transaction, the executive vice president now owns 40,979 shares of the company's stock, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MDT shares. Truist Financial lowered their target price on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a report on Wednesday, December 18th. UBS Group upped their price target on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Robert W. Baird lifted their price objective on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Finally, Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and upped their price objective for the stock 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 assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $96.07.

Medtronic 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.