DecisionMap Wealth Management LLC Buys Shares of 5,933 Medtronic plc (NYSE:MDT)

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

Other hedge funds have also recently bought and sold shares of the company. Guardian Wealth Management Inc. increased its position in Medtronic by 0.9% in the 3rd quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company's stock valued at $1,182,000 after buying an additional 115 shares in the last quarter. MONECO Advisors LLC lifted its stake in Medtronic by 1.8% during the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock valued at $512,000 after acquiring an additional 115 shares in the last quarter. First City Capital Management Inc. grew its position in Medtronic by 2.9% in the 3rd quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company's stock worth $371,000 after purchasing an additional 116 shares in the last quarter. Hardy Reed LLC increased its position in shares of Medtronic by 4.4% during the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company's stock valued at $247,000 after acquiring an additional 116 shares during the last quarter. Finally, OLD Second National Bank of Aurora boosted its position in Medtronic by 0.3% in the fourth quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company's stock worth $2,900,000 after purchasing an additional 121 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and lifted their target price for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Truist Financial reduced their price target on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a research report on Wednesday, December 18th. Barclays increased their target price on Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. Finally, JPMorgan Chase & Co. reduced their price objective on Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $96.07.

Medtronic Stock Up 0.9 %

Medtronic stock traded up $0.85 on Friday, hitting $93.18. 7,551,881 shares of the stock traded hands, compared to its average volume of 6,067,782. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The firm has a market cap of $119.51 billion, a P/E ratio of 28.32, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The business's fifty day simple moving average is $89.36 and its 200 day simple moving average is $87.94.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly 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 net margin of 12.83% and a return on equity of 14.07%. The company had revenue of $8.29 billion during the quarter, compared to analysts' expectations of $8.33 billion. As a group, sell-side analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

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

Insider Activity

In related news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction 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 represents a 19.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company's stock.

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.