Cibc World Market Inc. Has $21.76 Million Position in Medtronic plc (NYSE:MDT)

Cibc World Market Inc. boosted its holdings in Medtronic plc (NYSE:MDT - Free Report) by 3.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 272,444 shares of the medical technology company's stock after buying an additional 9,689 shares during the period. Cibc World Market Inc.'s holdings in Medtronic were worth $21,763,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Fortitude Family Office LLC purchased a new position 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 stake in Medtronic during the 3rd quarter valued at approximately $27,000. J. Stern & Co. LLP bought a new stake in shares of Medtronic in the third quarter worth $30,000. Finally, Kieckhefer Group LLC acquired a new stake in Medtronic in the fourth quarter valued at $40,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Performance

Shares of NYSE:MDT traded up $0.48 on Tuesday, hitting $91.01. 2,221,151 shares of the company were exchanged, compared to its average volume of 7,405,859. The company's 50 day moving average price is $84.47 and its two-hundred day moving average price is $86.16. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. Medtronic plc has a one year low of $75.96 and a one year high of $93.08. The firm has a market capitalization of $116.69 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 2.57 and a beta of 0.84.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion during the quarter, compared to analysts' expectations of $8.27 billion. During the same period last year, the business earned $1.25 earnings per share. Medtronic's quarterly revenue was up 5.2% compared to the same quarter last year. Research analysts expect that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date was Friday, December 27th. Medtronic's dividend payout ratio is 85.63%.

Insider Activity

In other news, EVP Brett A. Wall sold 12,437 shares of the firm'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 transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares of the company's stock, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.20% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Monday, November 18th. Sanford C. Bernstein boosted their price objective on Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 20th. Robert W. Baird lowered their target price on Medtronic from $96.00 to $93.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 20th. Truist Financial lowered their price target on Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada raised shares of Medtronic from a "sector perform" rating to an "outperform" rating and upped their price target for the company from $98.00 to $105.00 in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $95.00.

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.