HUB Investment Partners LLC raised its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 21.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,160 shares of the medical technology company's stock after purchasing an additional 3,074 shares during the quarter. HUB Investment Partners LLC's holdings in Medtronic were worth $1,371,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Mainstream Capital Management LLC bought a new stake in Medtronic in the fourth quarter worth $26,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic during the third quarter valued at approximately $27,000. Stephens Consulting LLC boosted its holdings in shares of Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 204 shares during the period. Rakuten Securities Inc. increased its holdings in Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after purchasing an additional 294 shares during the period. Finally, J. Stern & Co. LLP bought a new stake in Medtronic during the 3rd quarter valued at $30,000. Institutional investors own 82.06% of the company's stock.
Medtronic Price Performance
MDT traded down $0.17 during trading on Monday, reaching $90.16. The company's stock had a trading volume of 5,420,324 shares, compared to its average volume of 6,104,008. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The company has a market cap of $115.64 billion, a price-to-earnings ratio of 27.40, a PEG 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. The firm has a fifty day simple moving average of $90.67 and a two-hundred day simple moving average of $88.05.
Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.03. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. As a group, analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.
Medtronic Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Friday, March 28th. Medtronic's dividend payout ratio is presently 85.11%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on MDT. Truist Financial decreased their price objective on Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a research note on Wednesday, December 18th. Royal Bank of Canada reiterated an "outperform" rating and issued a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. UBS Group increased their price target on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Robert W. Baird raised their price objective on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Medtronic has an average rating of "Hold" and a consensus target price of $96.07.
Get Our Latest Stock Report on Medtronic
Insider Transactions at Medtronic
In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company's stock.
Medtronic Company Profile
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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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