Allen Mooney & Barnes Investment Advisors LLC lifted its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 7.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,948 shares of the medical technology company's stock after acquiring an additional 8,629 shares during the period. Medtronic accounts for about 1.7% of Allen Mooney & Barnes Investment Advisors LLC's investment portfolio, making the stock its 24th largest position. Allen Mooney & Barnes Investment Advisors LLC's holdings in Medtronic were worth $10,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. State Street Corp grew its holdings in shares of Medtronic by 0.9% during the 3rd quarter. State Street Corp now owns 60,731,367 shares of the medical technology company's stock worth $5,509,155,000 after purchasing an additional 520,027 shares during the period. Pzena Investment Management LLC lifted its position in Medtronic by 3.3% during the third quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company's stock valued at $772,727,000 after buying an additional 275,870 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Medtronic by 436.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company's stock worth $661,125,000 after buying an additional 5,975,110 shares during the period. Raymond James & Associates increased its position in shares of Medtronic by 2.3% in the third quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company's stock worth $575,460,000 after acquiring an additional 145,504 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Medtronic by 11.5% in the 3rd quarter. Fisher Asset Management LLC now owns 5,893,720 shares of the medical technology company's stock valued at $530,612,000 after acquiring an additional 609,391 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on MDT. Evercore ISI increased their price target on Medtronic from $100.00 to $104.00 and gave the company an "outperform" rating in a report on Tuesday, October 1st. Robert W. Baird lowered their target price on Medtronic from $96.00 to $93.00 and set a "neutral" rating for the company in a research note on Wednesday, November 20th. Truist Financial reduced their price target on Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a research report on Wednesday, December 18th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research report on Monday, November 18th. Finally, Royal Bank of Canada raised shares of Medtronic from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $95.00.
Read Our Latest Analysis on MDT
Medtronic Stock Performance
Shares of NYSE MDT traded up $0.08 during trading hours on Wednesday, hitting $85.33. 12,260,312 shares of the stock were exchanged, compared to its average volume of 8,509,968. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The company's 50 day moving average is $83.74 and its 200 day moving average is $85.01. The firm has a market capitalization of $109.42 billion, a P/E ratio of 26.09, a P/E/G ratio of 2.33 and a beta of 0.83. Medtronic plc has a one year low of $75.96 and a one year high of $92.68.
Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion during the quarter, compared to analysts' expectations of $8.27 billion. During the same period last year, the business earned $1.25 earnings per share. Medtronic's quarterly revenue was up 5.2% compared to the same quarter last year. On average, research analysts expect that Medtronic plc will post 5.45 EPS for the current year.
Medtronic Announces Dividend
The company also recently announced 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 3.28%. The ex-dividend date was Friday, December 27th. Medtronic's payout ratio is presently 85.63%.
Insider Transactions at Medtronic
In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the business's stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the sale, the executive vice president now directly owns 40,708 shares of the company's stock, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.20% of the company's stock.
About Medtronic
(
Free Report)
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.
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