Medtronic plc (NYSE:MDT) Shares Acquired by Skba Capital Management LLC

Skba Capital Management LLC raised its holdings in Medtronic plc (NYSE:MDT - Free Report) by 15.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 269,061 shares of the medical technology company's stock after buying an additional 35,400 shares during the period. Medtronic comprises approximately 3.4% of Skba Capital Management LLC's investment portfolio, making the stock its 4th biggest holding. Skba Capital Management LLC's holdings in Medtronic were worth $21,493,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC boosted its position in shares of Medtronic by 21.0% in the third quarter. FMR LLC now owns 1,839,569 shares of the medical technology company's stock valued at $165,616,000 after acquiring an additional 319,256 shares during the period. Fred Alger Management LLC increased its holdings in shares of Medtronic by 6.9% during the third quarter. Fred Alger Management LLC now owns 36,801 shares of the medical technology company's stock worth $3,313,000 after purchasing an additional 2,390 shares during the period. PDT Partners LLC bought a new position in shares of Medtronic during the third quarter worth approximately $522,000. Edgestream Partners L.P. boosted its stake in shares of Medtronic by 682.9% in the third quarter. Edgestream Partners L.P. now owns 23,737 shares of the medical technology company's stock valued at $2,137,000 after buying an additional 20,705 shares during the period. Finally, Bellevue Group AG boosted its stake in shares of Medtronic by 0.7% in the third quarter. Bellevue Group AG now owns 1,008,633 shares of the medical technology company's stock valued at $90,807,000 after buying an additional 6,886 shares during the period. Institutional investors own 82.06% of the company's stock.

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Insider Buying and Selling at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the sale, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.20% of the company's stock.

Medtronic Trading Down 1.5 %

MDT traded down $1.38 during midday trading on Tuesday, hitting $88.48. 7,059,371 shares of the company were exchanged, compared to its average volume of 6,569,849. The firm's 50 day moving average price is $91.02 and its 200-day moving average price is $87.99. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The firm has a market capitalization of $113.48 billion, a P/E ratio of 26.89, a P/E/G ratio of 2.22 and a beta of 0.80. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. The company had revenue of $8.29 billion during the quarter, compared to analysts' expectations of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. As a group, equities analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

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 issued a $0.70 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.16%. Medtronic's payout ratio is currently 85.11%.

Wall Street Analysts Forecast Growth

MDT has been the subject of a number of recent analyst reports. UBS Group upped their target price on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Robert W. Baird upped their price objective on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Truist Financial dropped their target price 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. Royal Bank of Canada reiterated an "outperform" rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $96.07.

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.