Hantz Financial Services Inc. decreased its position in Medtronic plc (NYSE:MDT - Free Report) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 108,534 shares of the medical technology company's stock after selling 9,039 shares during the period. Hantz Financial Services Inc.'s holdings in Medtronic were worth $8,670,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC bought a new stake in shares of Medtronic in the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC bought a new position in shares of Medtronic during the 3rd quarter worth $27,000. Darwin Wealth Management LLC purchased a new stake in Medtronic in the 3rd quarter worth about $27,000. J. Stern & Co. LLP bought a new stake in Medtronic in the 3rd quarter valued at about $30,000. Finally, Kieckhefer Group LLC purchased a new stake in Medtronic during the fourth quarter valued at about $40,000. Institutional investors own 82.06% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on MDT shares. 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 note on Wednesday, December 18th. Royal Bank of Canada upgraded Medtronic from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. JPMorgan Chase & Co. lowered their price target on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a report on Friday, November 15th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research report on Monday, November 18th. Finally, Barclays lifted their price target on Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $95.00.
Read Our Latest Stock Analysis on Medtronic
Insider Activity at Medtronic
In related news, EVP Brett A. Wall sold 9,850 shares of the business's stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the sale, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by company insiders.
Medtronic Stock Up 0.7 %
Medtronic stock traded up $0.67 during mid-day trading on Thursday, reaching $92.08. 1,606,752 shares of the company were exchanged, compared to its average volume of 7,579,091. The business has a fifty day moving average of $84.14 and a 200 day moving average of $85.87. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $93.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The firm has a market cap of $118.08 billion, a P/E ratio of 28.17, a PEG ratio of 2.49 and a beta of 0.83.
Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $8.40 billion during the quarter, compared to analysts' expectations of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. Research analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current fiscal year.
Medtronic Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic's dividend payout ratio (DPR) is 85.63%.
About Medtronic
(
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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