Kiker Wealth Management LLC purchased a new stake in Medtronic plc (NYSE:MDT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,631 shares of the medical technology company's stock, valued at approximately $530,000.
Other large investors also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC bought a new stake in shares of Medtronic during the 4th quarter valued at about $26,000. Darwin Wealth Management LLC purchased a new stake in Medtronic in the third quarter valued at approximately $27,000. Stephens Consulting LLC lifted its position in Medtronic by 145.7% during the fourth 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 last quarter. Rakuten Securities Inc. grew its stake in Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after buying an additional 294 shares in the last quarter. Finally, J. Stern & Co. LLP bought a new position in shares of Medtronic in the 3rd quarter worth $30,000. Institutional investors own 82.06% of the company's stock.
Insider Activity at Medtronic
In related news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the transaction, the executive vice president now directly owns 40,979 shares of the company's stock, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
MDT has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Barclays lifted 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. Truist Financial reduced their price objective on Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a research report on Wednesday, December 18th. Robert W. Baird boosted their target price on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Finally, Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and increased their price target for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $96.07.
View Our Latest Analysis on Medtronic
Medtronic Trading Down 0.2 %
Medtronic stock traded down $0.17 during trading hours on Monday, reaching $90.16. The stock had a trading volume of 5,420,324 shares, compared to its average volume of 6,104,009. The stock has a market cap of $115.64 billion, a PE ratio of 27.40, a PEG ratio of 2.22 and a beta of 0.80. The company has a fifty day simple moving average of $90.84 and a 200-day simple moving average of $88.05. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25.
Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results 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 return on equity of 14.07% and a net margin of 12.83%. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.
Medtronic Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Friday, March 28th. Medtronic's payout ratio is 85.11%.
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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