Foster & Motley Inc. grew its stake in Medtronic plc (NYSE:MDT - Free Report) by 30.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 32,643 shares of the medical technology company's stock after buying an additional 7,567 shares during the quarter. Foster & Motley Inc.'s holdings in Medtronic were worth $2,608,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in Medtronic in the third quarter valued at approximately $27,000. Darwin Wealth Management LLC acquired a new position in shares of Medtronic in the 3rd quarter valued at $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic in the 3rd quarter valued at $27,000. J. Stern & Co. LLP acquired a new stake in Medtronic during the 3rd quarter worth $30,000. Finally, Chelsea Counsel Co. purchased a new stake in Medtronic in the third quarter valued at $45,000. Institutional investors and hedge funds own 82.06% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. Barclays raised their price target on Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 26th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a report on Monday, November 18th. Sanford C. Bernstein lifted their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a research report on Wednesday, November 20th. Truist Financial dropped their target price on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, December 18th. Finally, Robert W. Baird reduced their price objective on Medtronic from $96.00 to $93.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $95.00.
Check Out Our Latest Report on MDT
Medtronic Stock Down 0.2 %
Shares of Medtronic stock traded down $0.18 on Monday, hitting $90.64. 3,952,043 shares of the company traded hands, compared to its average volume of 7,559,991. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $93.08. The company has a 50-day moving average price of $84.38 and a 200 day moving average price of $86.09. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The company has a market cap of $116.23 billion, a PE ratio of 27.74, a PEG ratio of 2.57 and a beta of 0.84.
Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion during the quarter, compared to analysts' expectations of $8.27 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. The company's revenue was up 5.2% on a year-over-year basis. Sell-side analysts predict that Medtronic plc will post 5.45 earnings per share for the current year.
Medtronic Dividend Announcement
The company also recently announced 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 was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.09%. Medtronic's dividend payout ratio (DPR) is currently 85.63%.
Insider Activity at Medtronic
In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company'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 sale, the executive vice president now directly owns 40,979 shares of the company's stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.
Medtronic Profile
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Free Report)
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.
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