Caprock Group LLC Buys 5,363 Shares of Medtronic plc (NYSE:MDT)

Caprock Group LLC raised its position in Medtronic plc (NYSE:MDT - Free Report) by 12.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,767 shares of the medical technology company's stock after purchasing an additional 5,363 shares during the period. Caprock Group LLC's holdings in Medtronic were worth $3,849,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Intergy Private Wealth LLC bought a new stake in Medtronic in the fourth quarter valued at approximately $202,000. Fiduciary Advisors Inc. bought a new stake in shares of Medtronic during the fourth quarter worth $36,000. Cibc World Market Inc. increased its position in shares of Medtronic by 3.7% during the fourth quarter. Cibc World Market Inc. now owns 272,444 shares of the medical technology company's stock worth $21,763,000 after acquiring an additional 9,689 shares in the last quarter. Crews Bank & Trust bought a new stake in shares of Medtronic during the fourth quarter worth $755,000. Finally, OLD Second National Bank of Aurora increased its position in shares of Medtronic by 0.3% during the fourth quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company's stock worth $2,900,000 after acquiring an additional 121 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Medtronic Stock Performance

Shares of NYSE MDT traded up $0.39 during mid-day trading on Tuesday, reaching $90.92. 2,439,365 shares of the company were exchanged, compared to its average volume of 7,411,048. The company's 50-day simple moving average is $84.47 and its 200-day simple moving average is $86.16. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $116.59 billion, a P/E ratio of 27.81, a P/E/G ratio of 2.57 and a beta of 0.84. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $93.08.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion during the quarter, compared to analysts' expectations of $8.27 billion. During the same quarter in the previous year, the company earned $1.25 EPS. The business's revenue was up 5.2% on a year-over-year basis. As a group, research analysts predict that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.08%. The ex-dividend date was Friday, December 27th. Medtronic's dividend payout ratio (DPR) is 85.63%.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the firm's stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the transaction, the executive vice president now directly owns 40,708 shares of the company's stock, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MDT. Sanford C. Bernstein increased their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 20th. Robert W. Baird lowered their price objective on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating for the company in a research report on Wednesday, November 20th. Royal Bank of Canada raised shares of Medtronic from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. 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 report on Friday, November 15th. Finally, Truist Financial decreased 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. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Medtronic has an average rating of "Hold" and a consensus target price of $95.00.

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.