Mattern Capital Management LLC Acquires 4,256 Shares of Medtronic plc (NYSE:MDT)

Mattern Capital Management LLC increased its holdings in Medtronic plc (NYSE:MDT - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,234 shares of the medical technology company's stock after purchasing an additional 4,256 shares during the period. Mattern Capital Management LLC's holdings in Medtronic were worth $8,166,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Copley Financial Group Inc. purchased a new stake in shares of Medtronic in the third quarter valued at $694,000. Olstein Capital Management L.P. grew its position in Medtronic by 19.2% during 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 acquiring an additional 14,000 shares during the period. Franklin Street Advisors Inc. NC grew its position in Medtronic by 32.6% during 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 acquiring an additional 18,057 shares during the period. Y Intercept Hong Kong Ltd grew its position in Medtronic by 322.6% during 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 acquiring an additional 56,178 shares during the period. Finally, Czech National Bank grew its position in Medtronic by 6.4% during the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company's stock valued at $22,212,000 after acquiring an additional 16,786 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Truist Financial lowered their price target on Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a research report on Wednesday, December 18th. UBS Group boosted their price target on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday. Barclays upped their target price on Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. decreased their target price on Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a research report on Friday, November 15th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $105.00 target price on shares of Medtronic in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Medtronic has an average rating of "Hold" and an average target price of $95.20.

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the 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 of the company's stock, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company's stock.

Medtronic Stock Up 2.3 %

NYSE MDT traded up $2.01 on Friday, hitting $89.95. 11,762,886 shares of the stock traded hands, compared to its average volume of 7,605,718. The stock has a 50-day moving average of $85.93 and a 200 day moving average of $87.03. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $93.08. The company has a market capitalization of $115.34 billion, a P/E ratio of 27.34, a price-to-earnings-growth ratio of 2.46 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 (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. The firm 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, analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Friday, December 27th. Medtronic's dividend payout ratio (DPR) is presently 85.11%.

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.