Edgar Lomax Co. VA Has $25.37 Million Stake in Medtronic plc (NYSE:MDT)

Edgar Lomax Co. VA decreased its stake in Medtronic plc (NYSE:MDT - Free Report) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 317,580 shares of the medical technology company's stock after selling 6,080 shares during the quarter. Medtronic makes up about 1.6% of Edgar Lomax Co. VA's holdings, making the stock its 26th biggest position. Edgar Lomax Co. VA's holdings in Medtronic were worth $25,368,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Mainstream Capital Management LLC acquired a new position in Medtronic during the 4th quarter valued at $26,000. Rakuten Securities Inc. raised its holdings in shares of Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after buying an additional 294 shares in the last quarter. Stephens Consulting LLC raised its stake 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 acquiring an additional 204 shares in the last quarter. Fiduciary Advisors Inc. bought a new position in Medtronic during the 4th quarter valued at about $36,000. Finally, Chelsea Counsel Co. bought a new position in shares of Medtronic in the third quarter valued at approximately $45,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on MDT shares. 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. Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Robert W. Baird increased their price objective on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Finally, Truist Financial reduced their target price on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. One 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $96.14.

Medtronic Stock Performance

NYSE:MDT traded up $0.42 during mid-day trading on Thursday, hitting $84.17. The stock had a trading volume of 2,995,450 shares, compared to its average volume of 6,659,936. The company's 50 day simple moving average is $88.36 and its 200 day simple moving average is $87.31. The stock has a market cap of $107.95 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 2.22 and a beta of 0.79. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25.

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 for the quarter, topping 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 business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. On average, equities research analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a $0.70 dividend. The ex-dividend date was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.33%. Medtronic's dividend payout ratio (DPR) is currently 85.11%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company's stock.

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.