Sei Investments Co. Acquires 83,393 Shares of Medtronic plc (NYSE:MDT)

Sei Investments Co. lifted its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 8.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,102,799 shares of the medical technology company's stock after buying an additional 83,393 shares during the quarter. Sei Investments Co. owned about 0.09% of Medtronic worth $88,105,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vestor Capital LLC increased its stake in Medtronic by 0.3% during the 4th quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock worth $4,104,000 after acquiring an additional 138 shares during the period. Mizuho Securities USA LLC raised its stake in Medtronic by 46.1% in the fourth quarter. Mizuho Securities USA LLC now owns 121,549 shares of the medical technology company's stock valued at $9,709,000 after purchasing an additional 38,379 shares in the last quarter. Virtu Financial LLC bought a new stake in Medtronic during the fourth quarter worth about $3,713,000. Quantbot Technologies LP acquired a new stake in Medtronic during the fourth quarter worth about $2,238,000. Finally, Millstone Evans Group LLC bought a new position in Medtronic in the 4th quarter valued at about $302,000. Institutional investors own 82.06% of the company's stock.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of the business's stock in a transaction dated 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 transaction, the executive vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by corporate insiders.

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Analyst Ratings Changes

A number of brokerages recently issued reports on MDT. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Truist Financial decreased their target price on Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a research report on Wednesday, December 18th. Royal Bank of Canada reiterated an "outperform" rating and set a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Barclays lifted their price target on Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, Medtronic currently has a consensus rating of "Hold" and an average target price of $96.07.

Medtronic Stock Down 0.5 %

Shares of MDT traded down $0.42 during trading hours on Wednesday, reaching $88.17. The stock had a trading volume of 7,460,218 shares, compared to its average volume of 6,120,013. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The firm has a 50-day simple moving average of $90.90 and a 200 day simple moving average of $88.04. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The company has a market capitalization of $113.08 billion, a price-to-earnings ratio of 26.80, a P/E/G ratio of 2.22 and a beta of 0.80.

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. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Equities research analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.18%. Medtronic's payout ratio is 85.11%.

Medtronic Company 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.