Crux Wealth Advisors Makes New Investment in Medtronic plc (NYSE:MDT)

Crux Wealth Advisors bought a new position in Medtronic plc (NYSE:MDT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 12,836 shares of the medical technology company's stock, valued at approximately $1,025,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MDT. Mainstream Capital Management LLC acquired a new position in Medtronic during the fourth quarter worth about $26,000. Rakuten Securities Inc. raised its holdings in Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 294 shares during the last quarter. Stephens Consulting LLC lifted its position 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 buying an additional 204 shares during the period. Fiduciary Advisors Inc. purchased a new position in shares of Medtronic during the 4th quarter worth about $36,000. Finally, Chelsea Counsel Co. acquired a new position in shares of Medtronic in the 3rd quarter valued at $45,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MDT shares. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Royal Bank of Canada reiterated an "outperform" rating and set a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. Truist Financial lowered their price target on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a report on Friday. Robert W. Baird boosted their price objective on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Finally, Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and raised their target price for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Medtronic currently has an average rating of "Hold" and an average price target of $96.14.

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Insider Activity at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the 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 completion of the transaction, the executive vice president now owns 40,979 shares of the company's stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.

Medtronic Stock Down 2.3 %

Shares of MDT stock traded down $1.96 during trading hours on Tuesday, hitting $82.26. 5,524,790 shares of the company were exchanged, compared to its average volume of 6,674,835. 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 stock has a market capitalization of $105.51 billion, a price-to-earnings ratio of 25.00, a P/E/G ratio of 2.22 and a beta of 0.79. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The business's 50-day simple moving average is $89.56 and its two-hundred day simple moving average is $87.60.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Sell-side analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $0.70 dividend. The ex-dividend date was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.40%. Medtronic's dividend payout ratio (DPR) is presently 85.11%.

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.