Machina Capital S.A.S. Buys Shares of 19,207 Medtronic plc (NYSE:MDT)

Machina Capital S.A.S. purchased a new stake in shares of Medtronic plc (NYSE:MDT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 19,207 shares of the medical technology company's stock, valued at approximately $1,534,000.

A number of other institutional investors also recently modified their holdings of the company. Guardian Wealth Management Inc. grew its holdings in shares of Medtronic by 0.9% in the 3rd quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company's stock valued at $1,182,000 after acquiring an additional 115 shares in the last quarter. MONECO Advisors LLC boosted its position in Medtronic by 1.8% during the fourth quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock valued at $512,000 after purchasing an additional 115 shares during the last quarter. First City Capital Management Inc. boosted its position in Medtronic by 2.9% during the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company's stock valued at $371,000 after purchasing an additional 116 shares during the last quarter. Hardy Reed LLC increased its position in shares of Medtronic by 4.4% during the 3rd quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company's stock worth $247,000 after purchasing an additional 116 shares during the last quarter. Finally, OLD Second National Bank of Aurora increased its position in shares of Medtronic by 0.3% during the 4th quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company's stock worth $2,900,000 after purchasing an additional 121 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

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Analysts Set New Price Targets

Several equities analysts recently weighed in on MDT shares. JPMorgan Chase & Co. decreased their target price on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a research note on Friday, November 15th. Truist Financial decreased 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. Sanford C. Bernstein boosted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 20th. UBS Group raised their target price on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $105.00 price target 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 issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Medtronic currently has an average rating of "Hold" and an average price target of $96.07.

Medtronic Stock Performance

NYSE:MDT traded down $0.36 during mid-day trading on Tuesday, hitting $93.44. 7,300,420 shares of the stock were exchanged, compared to its average volume of 6,054,886. The firm's 50-day simple moving average is $88.62 and its 200 day simple moving average is $87.84. The stock has a market capitalization of $119.85 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $8.33 billion. As a group, equities analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.00%. Medtronic's payout ratio is presently 85.11%.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the business's stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares of the company's stock, valued at $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company's stock.

Medtronic Profile

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.