Czech National Bank Buys 16,786 Shares of Medtronic plc (NYSE:MDT)

Czech National Bank boosted its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 6.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 278,065 shares of the medical technology company's stock after buying an additional 16,786 shares during the period. Czech National Bank's holdings in Medtronic were worth $22,212,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of MDT. Federated Hermes Inc. lifted its stake in Medtronic by 5.7% in the 2nd quarter. Federated Hermes Inc. now owns 195,324 shares of the medical technology company's stock valued at $15,374,000 after acquiring an additional 10,586 shares in the last quarter. Thoroughbred Financial Services LLC grew its position in Medtronic by 15.4% in the second quarter. Thoroughbred Financial Services LLC now owns 5,357 shares of the medical technology company's stock valued at $421,000 after purchasing an additional 714 shares in the last quarter. Diversify Wealth Management LLC acquired a new stake in Medtronic in the 2nd quarter valued at $2,420,000. Wilkins Investment Counsel Inc. lifted its position in Medtronic by 2.9% during the 2nd quarter. Wilkins Investment Counsel Inc. now owns 201,543 shares of the medical technology company's stock worth $15,863,000 after buying an additional 5,740 shares in the last quarter. Finally, Hanson & Doremus Investment Management boosted its stake in shares of Medtronic by 3.4% during the 2nd quarter. Hanson & Doremus Investment Management now owns 47,613 shares of the medical technology company's stock worth $3,748,000 after buying an additional 1,549 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

Medtronic Stock Performance

Shares of MDT stock traded up $1.02 on Monday, hitting $81.68. The company's stock had a trading volume of 6,477,191 shares, compared to its average volume of 7,274,163. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. The company has a market capitalization of $104.74 billion, a PE ratio of 24.98, a PEG ratio of 2.33 and a beta of 0.83. The stock's 50 day moving average is $83.83 and its 200-day moving average is $84.96. 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 (NYSE:MDT - Get Free Report) last announced its earnings results 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. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business's revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.25 EPS. Equities research analysts expect that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.43%. Medtronic's payout ratio is 85.63%.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the company's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the sale, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Citigroup upped their target price on Medtronic from $85.00 to $92.00 and gave the stock a "neutral" rating in a report on Tuesday, October 1st. Royal Bank of Canada upgraded shares of Medtronic from a "sector perform" rating to an "outperform" rating and increased their price target for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Wells Fargo & Company lowered their price objective on shares of Medtronic from $106.00 to $98.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 20th. Truist Financial cut their target price on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. lowered their price target on Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average 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.