Aigen Investment Management LP Increases Position in Medtronic plc (NYSE:MDT)

Aigen Investment Management LP increased its holdings in Medtronic plc (NYSE:MDT - Free Report) by 985.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,622 shares of the medical technology company's stock after acquiring an additional 64,114 shares during the period. Medtronic comprises approximately 1.0% of Aigen Investment Management LP's portfolio, making the stock its 2nd biggest holding. Aigen Investment Management LP's holdings in Medtronic were worth $5,641,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Copley Financial Group Inc. purchased a new position in Medtronic in the third quarter valued at approximately $694,000. Olstein Capital Management L.P. lifted its stake in Medtronic by 19.2% in the third quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company's stock valued at $7,833,000 after purchasing an additional 14,000 shares during the last quarter. Franklin Street Advisors Inc. NC lifted its stake in Medtronic by 32.6% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company's stock valued at $5,873,000 after purchasing an additional 18,057 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its stake in Medtronic by 322.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company's stock valued at $6,626,000 after purchasing an additional 56,178 shares during the last quarter. Finally, Czech National Bank lifted its stake in Medtronic by 6.4% in the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company's stock valued at $22,212,000 after purchasing an additional 16,786 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Insider Activity at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now directly owns 40,979 shares of the company's stock, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MDT shares. Sanford C. Bernstein upped their price objective on Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a research note on Wednesday, November 20th. Truist Financial dropped 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. UBS Group increased their target price on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. dropped their target price on Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a research report on Friday, November 15th. Finally, Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and increased their target price for the stock from $92.00 to $107.00 in a research report on Tuesday. One investment 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 stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $96.07.

Medtronic Price Performance

Shares of Medtronic stock traded up $1.12 during trading on Wednesday, hitting $94.15. The stock had a trading volume of 5,818,388 shares, compared to its average volume of 6,032,526. The firm has a market cap of $120.75 billion, a price-to-earnings ratio of 28.62, a P/E/G ratio of 2.22 and a beta of 0.84. 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 plc has a 12 month low of $75.96 and a 12 month high of $95.57. The business's 50-day moving average is $87.82 and its 200 day moving average is $87.68.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion for the quarter, compared to analysts' expectations of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. As a group, sell-side analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 2.97%. Medtronic's dividend payout ratio is presently 85.11%.

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.