Callan Family Office LLC grew its stake in Medtronic plc (NYSE:MDT - Free Report) by 348.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,678 shares of the medical technology company's stock after purchasing an additional 12,955 shares during the quarter. Callan Family Office LLC's holdings in Medtronic were worth $1,332,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the stock. Mainstream Capital Management LLC acquired a new stake in Medtronic during the fourth quarter valued at approximately $26,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic during the 3rd quarter valued at approximately $27,000. Stephens Consulting LLC lifted its stake in 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 purchasing an additional 204 shares during the last quarter. J. Stern & Co. LLP acquired a new position in Medtronic in the third quarter worth $30,000. Finally, Fiduciary Advisors Inc. acquired a new position in Medtronic in the fourth quarter worth $36,000. Institutional investors and hedge funds own 82.06% of the company's stock.
Analyst Ratings Changes
Several research analysts have recently commented on the stock. Barclays lifted their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. UBS Group lifted their target price on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Truist Financial lowered their target price on Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, December 18th. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and raised their price target for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Finally, Wells Fargo & Company lowered their price objective on Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned 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, Medtronic currently has a consensus rating of "Hold" and an average price target of $96.07.
Read Our Latest Stock Report on MDT
Insider Buying and Selling at Medtronic
In related news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the transaction, the executive vice president now directly 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 legal filing with the SEC, which is available through this link. 0.20% of the stock is owned by corporate insiders.
Medtronic Price Performance
Shares of NYSE:MDT traded down $0.36 during trading on Tuesday, reaching $93.44. The company had a trading volume of 7,300,420 shares, compared to its average volume of 6,054,886. The firm's fifty day moving average is $88.62 and its 200 day moving average is $87.84. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The firm has a market capitalization of $119.85 billion, a PE ratio of 28.40, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25.
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 for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. On average, equities analysts forecast that Medtronic plc will post 5.46 EPS for the current year.
Medtronic Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.00%. The ex-dividend date is Friday, March 28th. Medtronic's dividend payout ratio (DPR) is presently 85.11%.
Medtronic Company Profile
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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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