Generali Asset Management SPA SGR Buys Shares of 38,927 Medtronic plc (NYSE:MDT)

Generali Asset Management SPA SGR acquired a new stake in shares of Medtronic plc (NYSE:MDT - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 38,927 shares of the medical technology company's stock, valued at approximately $3,109,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mainstream Capital Management LLC acquired a new position in shares of Medtronic in the 4th quarter valued at $26,000. Darwin Wealth Management LLC acquired a new position in shares of Medtronic in the 3rd quarter valued at $27,000. Stephens Consulting LLC lifted its stake in shares of Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 204 shares during the period. Rakuten Securities Inc. lifted its stake 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 valued at $27,000 after purchasing an additional 294 shares during the period. Finally, J. Stern & Co. LLP acquired a new position in shares of Medtronic in the 3rd quarter valued at $30,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Price Performance

Shares of Medtronic stock traded down $0.85 during trading hours on Friday, reaching $90.37. 14,027,607 shares of the company's stock were exchanged, compared to its average volume of 6,106,756. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The company has a market capitalization of $115.90 billion, a P/E ratio of 27.47, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The business has a fifty day moving average of $90.67 and a two-hundred day moving average of $88.07. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

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Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. As a group, research analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

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

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the company's stock in a transaction dated 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 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 document filed with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. UBS Group upped their price objective 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. Robert W. Baird upped 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. Truist Financial reduced their price objective 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. Finally, Royal Bank of Canada restated an "outperform" rating and set a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Medtronic currently has an average rating of "Hold" and a consensus price target of $96.07.

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.