DecisionMap Wealth Management LLC Takes Position in Medtronic plc (NYSE:MDT)

DecisionMap Wealth Management LLC purchased a new stake in Medtronic plc (NYSE:MDT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,933 shares of the medical technology company's stock, valued at approximately $474,000.

Other institutional investors have also recently modified their holdings of the company. PGGM Investments boosted its position in Medtronic by 9.3% during the fourth quarter. PGGM Investments now owns 1,243,301 shares of the medical technology company's stock worth $99,315,000 after purchasing an additional 105,611 shares in the last quarter. Lazard Freres Gestion S.A.S. boosted its position in Medtronic by 32.1% during the fourth quarter. Lazard Freres Gestion S.A.S. now owns 1,530,933 shares of the medical technology company's stock worth $122,290,000 after purchasing an additional 371,742 shares in the last quarter. Achmea Investment Management B.V. boosted its position in Medtronic by 0.7% during the fourth quarter. Achmea Investment Management B.V. now owns 192,024 shares of the medical technology company's stock worth $15,339,000 after purchasing an additional 1,248 shares in the last quarter. Rakuten Securities Inc. boosted its position in Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after purchasing an additional 294 shares in the last quarter. Finally, Jupiter Asset Management Ltd. boosted its position in Medtronic by 2,255.1% during the fourth quarter. Jupiter Asset Management Ltd. now owns 870,956 shares of the medical technology company's stock worth $69,572,000 after purchasing an additional 833,975 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MDT. Barclays boosted their target price on Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 26th. Truist Financial cut 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. Robert W. Baird boosted their price target on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have issued 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.com, Medtronic presently has a consensus rating of "Hold" and an average price target of $96.07.

Medtronic Price Performance

NYSE MDT traded up $0.85 on Friday, reaching $93.18. 7,788,622 shares of the stock traded hands, compared to its average volume of 6,013,692. The company has a market cap of $119.51 billion, a price-to-earnings ratio of 28.32, a P/E/G ratio of 2.22 and a beta of 0.80. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The firm's fifty day simple moving average is $89.61 and its 200 day simple moving average is $87.96. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25.

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 business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. As a group, research analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.70 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.00%. Medtronic's payout ratio is currently 85.11%.

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.