Finward Bancorp Invests $451,000 in Medtronic plc (NYSE:MDT)

Finward Bancorp purchased a new stake in Medtronic plc (NYSE:MDT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,652 shares of the medical technology company's stock, valued at approximately $451,000.

Several other hedge funds have also recently modified their holdings of MDT. Morse Asset Management Inc purchased a new stake in shares of Medtronic during the third quarter valued at about $225,000. Te Ahumairangi Investment Management Ltd lifted its position in Medtronic by 4.1% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 52,321 shares of the medical technology company's stock valued at $4,684,000 after acquiring an additional 2,050 shares during the last quarter. Chelsea Counsel Co. acquired a new stake in Medtronic in the third quarter valued at approximately $45,000. Tudor Financial Inc. purchased a new position in Medtronic in the third quarter worth $586,000. Finally, Anchor Investment Management LLC lifted its holdings in shares of Medtronic by 1.2% during the 3rd quarter. Anchor Investment Management LLC now owns 107,518 shares of the medical technology company's stock valued at $9,680,000 after purchasing an additional 1,271 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Price Performance

Shares of Medtronic stock traded down $0.12 during trading hours on Friday, reaching $82.58. The stock had a trading volume of 5,937,486 shares, compared to its average volume of 6,674,143. The stock's 50 day moving average is $88.91 and its 200 day moving average is $87.42. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The firm has a market capitalization of $105.91 billion, a PE ratio of 25.10, a PEG ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating 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 during the quarter, compared to analysts' expectations of $8.33 billion. Equities analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

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. This represents a $2.80 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Friday, March 28th. Medtronic's dividend payout ratio is presently 85.11%.

Wall Street Analysts Forecast Growth

MDT has been the topic of several recent analyst reports. Robert W. Baird upped their target price on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Truist Financial decreased their price objective on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research report on Friday, April 11th. UBS Group boosted their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and raised their price target for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Medtronic has an average rating of "Hold" and a consensus target price of $96.14.

Insiders Place Their Bets

In related news, EVP Brett A. Wall sold 12,437 shares of the business's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by company insiders.

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.