CGN Advisors LLC Buys 4,601 Shares of Medtronic plc (NYSE:MDT)

CGN Advisors LLC increased its holdings in Medtronic plc (NYSE:MDT - Free Report) by 14.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,187 shares of the medical technology company's stock after purchasing an additional 4,601 shares during the quarter. CGN Advisors LLC's holdings in Medtronic were worth $2,971,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MDT. State Street Corp lifted its position in shares of Medtronic by 0.9% during the 3rd quarter. State Street Corp now owns 60,731,367 shares of the medical technology company's stock valued at $5,509,155,000 after acquiring an additional 520,027 shares during the last quarter. Pzena Investment Management LLC raised its position in shares of Medtronic by 3.3% during the third quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company's stock worth $772,727,000 after purchasing an additional 275,870 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Medtronic by 436.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company's stock valued at $661,125,000 after purchasing an additional 5,975,110 shares during the last quarter. Raymond James & Associates boosted its position in shares of Medtronic by 2.3% in the 3rd quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company's stock valued at $575,460,000 after purchasing an additional 145,504 shares during the period. Finally, Fisher Asset Management LLC increased its stake in Medtronic by 11.5% in the 3rd quarter. Fisher Asset Management LLC now owns 5,893,720 shares of the medical technology company's stock worth $530,612,000 after purchasing an additional 609,391 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MDT has been the subject of several recent analyst reports. Truist Financial decreased their target price on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, December 18th. Wells Fargo & Company decreased their price objective on shares of Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a research note on Wednesday, November 20th. Barclays lifted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 26th. Royal Bank of Canada upgraded Medtronic from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $95.00.

Medtronic Stock Up 1.2 %

NYSE MDT traded up $1.07 during trading on Friday, reaching $88.23. The company's stock had a trading volume of 9,577,939 shares, compared to its average volume of 5,401,241. The business has a 50-day moving average price of $83.64 and a 200-day moving average price of $85.10. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $92.68. The stock has a market capitalization of $113.13 billion, a PE ratio of 26.98, a PEG ratio of 2.28 and a beta of 0.83. 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 (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 (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $8.27 billion. During the same period in the prior year, the company posted $1.25 earnings per share. Medtronic's revenue for the quarter was up 5.2% on a year-over-year basis. On average, research analysts forecast that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.17%. Medtronic's dividend payout ratio (DPR) is currently 85.63%.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 9,850 shares of the firm's stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the sale, the executive vice president now directly owns 40,708 shares of the company's stock, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company's stock.

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.