Columbia Asset Management bought a new position in shares of Medtronic plc (NYSE:MDT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 53,636 shares of the medical technology company's stock, valued at approximately $4,284,000.
A number of other hedge funds have also bought and sold shares of the stock. FMR LLC lifted its stake in shares of Medtronic by 21.0% in the third 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. PDT Partners LLC purchased a new position in shares of Medtronic in the third quarter valued at approximately $522,000. Edgestream Partners L.P. grew its stake in shares of Medtronic by 682.9% in the third quarter. Edgestream Partners L.P. now owns 23,737 shares of the medical technology company's stock worth $2,137,000 after acquiring an additional 20,705 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Medtronic during the 3rd quarter worth about $568,000. Finally, Ascent Group LLC purchased a new position in Medtronic in the third quarter worth approximately $476,000. Institutional investors and hedge funds own 82.06% of the company's stock.
Insider Buying and Selling at Medtronic
In other Medtronic 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.
Medtronic Price Performance
MDT traded up $0.48 during trading on Wednesday, reaching $88.97. 5,550,638 shares of the stock were exchanged, compared to its average volume of 6,575,485. Medtronic plc has a 1 year low of $75.96 and a 1 year 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 business's 50 day moving average price is $91.04 and its two-hundred day moving average price is $87.99. The company has a market capitalization of $114.11 billion, a price-to-earnings ratio of 27.04, a P/E/G ratio of 2.22 and a beta of 0.80.
Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $8.33 billion. As a group, equities research analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.
Medtronic Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.15%. Medtronic's dividend payout ratio (DPR) is currently 85.11%.
Analyst Upgrades and Downgrades
MDT has been the subject of a number of analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Robert W. Baird upped their price objective on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. UBS Group raised their target price on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Truist Financial lowered their price target on Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, December 18th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $105.00 price objective on shares of Medtronic in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have assigned 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, Medtronic currently has an average rating of "Hold" and an average target price of $96.07.
Read Our Latest Stock Report on Medtronic
About Medtronic
(
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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