Colrain Capital LLC Invests $3.07 Million in Medtronic plc (NYSE:MDT)

Colrain Capital LLC acquired a new stake in shares of Medtronic plc (NYSE:MDT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 38,060 shares of the medical technology company's stock, valued at approximately $3,067,000. Medtronic accounts for approximately 3.0% of Colrain Capital LLC's holdings, making the stock its 12th largest position.

A number of other institutional investors have also added to or reduced their stakes in the business. FMR LLC grew its stake in Medtronic by 21.0% in the 3rd quarter. FMR LLC now owns 1,839,569 shares of the medical technology company's stock worth $165,616,000 after buying an additional 319,256 shares in the last quarter. Fred Alger Management LLC grew its position in Medtronic by 6.9% in the third quarter. Fred Alger Management LLC now owns 36,801 shares of the medical technology company's stock worth $3,313,000 after acquiring an additional 2,390 shares in the last quarter. PDT Partners LLC purchased a new position in Medtronic in the third quarter worth $522,000. Edgestream Partners L.P. increased its stake in Medtronic by 682.9% in the third quarter. Edgestream Partners L.P. now owns 23,737 shares of the medical technology company's stock valued at $2,137,000 after acquiring an additional 20,705 shares during the last quarter. Finally, Bellevue Group AG raised its position in Medtronic by 0.7% during the third quarter. Bellevue Group AG now owns 1,008,633 shares of the medical technology company's stock valued at $90,807,000 after purchasing an additional 6,886 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the firm's stock in a transaction that occurred on Wednesday, January 8th. The shares were 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 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 Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is owned by company insiders.

Medtronic Trading Down 0.9 %

Medtronic stock traded down $0.77 during mid-day trading on Thursday, reaching $88.09. 3,359,542 shares of the company traded hands, compared to its average volume of 6,563,601. The firm's 50 day moving average price is $91.04 and its 200 day moving average price is $87.99. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The firm has a market capitalization of $112.98 billion, a price-to-earnings ratio of 26.78, a P/E/G ratio of 2.22 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The company had revenue of $8.29 billion for the quarter, compared to analysts' expectations of $8.33 billion. On average, analysts anticipate 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. Shareholders of record on Friday, March 28th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic's dividend payout ratio is currently 85.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MDT shares. Robert W. Baird upped their price objective on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. UBS Group increased their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Truist Financial reduced 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. Finally, Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. One 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $96.07.

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.