Financial & Tax Architects LLC Acquires 3,572 Shares of Medtronic plc (NYSE:MDT)

Financial & Tax Architects LLC increased its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,222 shares of the medical technology company's stock after acquiring an additional 3,572 shares during the quarter. Medtronic makes up approximately 1.5% of Financial & Tax Architects LLC's holdings, making the stock its 27th biggest holding. Financial & Tax Architects LLC's holdings in Medtronic were worth $6,009,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC bought a new position in shares of Medtronic in the third quarter valued at approximately $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic during the third quarter valued at approximately $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Medtronic in the third quarter valued at $27,000. J. Stern & Co. LLP acquired a new stake in Medtronic during the 3rd quarter worth about $30,000. Finally, Chelsea Counsel Co. purchased a new position in Medtronic during the third quarter valued at approximately $45,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 9,850 shares of the company's stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MDT. JPMorgan Chase & Co. dropped their target price on Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a research report on Friday, November 15th. 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 report on Wednesday, December 18th. Citigroup increased their price objective on Medtronic from $85.00 to $92.00 and gave the company a "neutral" rating in a research report on Tuesday, October 1st. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Monday, November 18th. Finally, Evercore ISI raised their price objective on shares of Medtronic from $100.00 to $104.00 and gave the stock an "outperform" rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $95.00.

Medtronic Price Performance

Shares of MDT stock traded up $1.07 during trading hours on Friday, reaching $88.23. 9,577,939 shares of the company were exchanged, compared to its average volume of 5,401,241. The stock's fifty day moving average is $83.64 and its two-hundred day moving average is $85.10. The company has a market cap of $113.13 billion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 2.28 and a beta of 0.83. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the firm posted $1.25 earnings per share. Medtronic's revenue for the quarter was up 5.2% compared to the same quarter last year. Sell-side analysts forecast that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.17%. Medtronic's dividend payout ratio is 85.63%.

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.