Medtronic plc (NYSE:MDT) Shares Bought by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC increased its holdings in Medtronic plc (NYSE:MDT - Free Report) by 18.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,143 shares of the medical technology company's stock after purchasing an additional 4,145 shares during the period. GC Wealth Management RIA LLC's holdings in Medtronic were worth $2,088,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Global View Capital Management LLC purchased a new position in shares of Medtronic during the 4th quarter worth about $527,000. S&CO Inc. increased its position in Medtronic by 1.3% during the fourth quarter. S&CO Inc. now owns 118,523 shares of the medical technology company's stock worth $9,467,000 after purchasing an additional 1,548 shares during the last quarter. Dearborn Partners LLC raised its stake in Medtronic by 7.9% during the fourth quarter. Dearborn Partners LLC now owns 72,027 shares of the medical technology company's stock worth $5,754,000 after purchasing an additional 5,252 shares during the period. Riverbend Wealth Management LLC acquired a new position in shares of Medtronic in the 4th quarter valued at $237,000. Finally, Morton Community Bank increased its stake in Medtronic by 2.1% during the fourth quarter. Morton Community Bank now owns 35,734 shares of the medical technology company's stock worth $2,854,000 after acquiring an additional 733 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MDT has been the topic of several research analyst reports. Truist Financial reduced their price objective on Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a research note on Wednesday, December 18th. Barclays lifted their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. dropped their price objective 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Robert W. Baird upped their target price on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Medtronic has a consensus rating of "Hold" and an average price target of $96.07.

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Medtronic Stock Down 2.0 %

Medtronic stock traded down $1.88 during midday trading on Wednesday, hitting $91.40. The stock had a trading volume of 4,117,883 shares, compared to its average volume of 6,047,172. The business has a fifty day moving average price of $88.89 and a 200 day moving average price of $87.88. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The stock has a market cap of $117.22 billion, a P/E ratio of 27.83, a P/E/G ratio of 2.22 and a beta of 0.80. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating 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 business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Research analysts predict that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic's dividend payout ratio (DPR) is presently 85.11%.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of the company's stock in a transaction on Friday, January 24th. The stock was 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 directly owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

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.