Evoke Wealth LLC Purchases Shares of 4,281 Medtronic plc (NYSE:MDT)

Evoke Wealth LLC acquired a new position in shares of Medtronic plc (NYSE:MDT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,281 shares of the medical technology company's stock, valued at approximately $345,000.

A number of other institutional investors also recently made changes to their positions in MDT. Copley Financial Group Inc. acquired a new stake in shares of Medtronic in the third quarter valued at approximately $694,000. Franklin Street Advisors Inc. NC raised its position in shares of Medtronic by 32.6% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company's stock valued at $5,873,000 after buying an additional 18,057 shares in the last quarter. Y Intercept Hong Kong Ltd raised its position in shares of Medtronic by 322.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company's stock valued at $6,626,000 after buying an additional 56,178 shares in the last quarter. Olstein Capital Management L.P. raised its position in shares of Medtronic by 8.0% in the fourth quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company's stock valued at $7,509,000 after buying an additional 7,000 shares in the last quarter. Finally, Czech National Bank raised its position in shares of Medtronic by 6.4% in the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company's stock valued at $22,212,000 after buying an additional 16,786 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

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Medtronic Price Performance

Shares of NYSE MDT traded down $0.85 during midday trading on Friday, reaching $90.37. 14,027,607 shares of the company were exchanged, compared to its average volume of 6,106,756. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The stock has a market cap of $115.90 billion, a P/E ratio of 27.47, a PEG ratio of 2.22 and a beta of 0.80. The stock's 50-day moving average price is $90.67 and its 200-day moving average price is $88.07.

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

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.70 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.10%. Medtronic's dividend payout ratio is 85.11%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MDT shares. Truist Financial dropped 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. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. Robert W. Baird boosted their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Barclays boosted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a research report on Tuesday, November 26th. Finally, UBS Group boosted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Medtronic currently has a consensus rating of "Hold" and an average target price of $96.07.

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 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 owns 40,708 shares of the company's stock, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

About Medtronic

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.