Lingohr Asset Management GmbH Invests $1.07 Million in Medtronic plc (NYSE:MDT)

Lingohr Asset Management GmbH purchased a new stake in Medtronic plc (NYSE:MDT - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 13,461 shares of the medical technology company's stock, valued at approximately $1,072,000. Medtronic makes up approximately 2.2% of Lingohr Asset Management GmbH's holdings, making the stock its 8th biggest holding.

Several other institutional investors also recently bought and sold shares of MDT. Mainstream Capital Management LLC acquired a new stake in shares of Medtronic in the fourth quarter worth approximately $26,000. Darwin Wealth Management LLC purchased a new position in Medtronic in the 3rd quarter valued at $27,000. Stephens Consulting LLC boosted its stake in Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after purchasing an additional 204 shares during the last quarter. Rakuten Securities Inc. grew its holdings in shares of Medtronic by 753.8% during the fourth 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 acquired a new stake in shares of Medtronic in the third quarter valued at about $30,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of recent research reports. UBS Group boosted their price target 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. Barclays boosted their target price on Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a report on Tuesday, November 26th. Royal Bank of Canada restated an "outperform" rating and issued a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Robert W. Baird lifted their price objective on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Finally, Truist Financial dropped their target price on Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Medtronic has an average rating of "Hold" and a consensus target price of $96.07.

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Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the business's stock in a transaction on 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 completion of the transaction, the executive vice president now 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by company insiders.

Medtronic Trading Down 0.9 %

Shares of NYSE:MDT traded down $0.85 during midday trading 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. The stock has a market cap of $115.90 billion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 2.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The firm's 50 day simple moving average is $90.67 and its two-hundred day simple moving average is $88.07. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25.

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 the consensus estimate of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. As a group, sell-side analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

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

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.