NEOS Investment Management LLC Buys 11,237 Shares of Medtronic plc (NYSE:MDT)

NEOS Investment Management LLC raised its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 12.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,476 shares of the medical technology company's stock after acquiring an additional 11,237 shares during the period. NEOS Investment Management LLC's holdings in Medtronic were worth $8,266,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Guardian Wealth Management Inc. raised its position in shares of Medtronic by 0.9% in the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company's stock worth $1,182,000 after buying an additional 115 shares in the last quarter. MONECO Advisors LLC boosted its position in shares of Medtronic by 1.8% during the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock valued at $512,000 after acquiring an additional 115 shares during the last quarter. Hardy Reed LLC grew its holdings in shares of Medtronic by 4.4% during the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company's stock worth $247,000 after purchasing an additional 116 shares in the last quarter. OLD Second National Bank of Aurora increased its position in shares of Medtronic by 0.3% in the fourth quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company's stock worth $2,900,000 after purchasing an additional 121 shares during the last quarter. Finally, McKinley Carter Wealth Services Inc. grew its stake in Medtronic by 0.7% in the 4th quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company's stock worth $1,572,000 after buying an additional 129 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

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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 value of $1,119,330.00. Following the sale, the executive vice president now directly owns 40,979 shares of the company's stock, 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 Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on MDT. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and increased their target price for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. UBS Group increased their price objective on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Truist Financial dropped their target price on Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a research report on Wednesday, December 18th. Royal Bank of Canada reissued an "outperform" rating and set a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Robert W. Baird lifted their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Medtronic currently has an average rating of "Hold" and an average price target of $96.07.

Medtronic Trading Down 1.5 %

MDT traded down $1.36 during midday trading on Friday, reaching $87.62. 6,320,123 shares of the company's stock traded hands, compared to its average volume of 6,561,213. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The firm has a fifty day moving average of $90.98 and a two-hundred day moving average of $88.01. The stock has a market capitalization of $112.38 billion, a price-to-earnings ratio of 26.63, a P/E/G ratio of 2.22 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last announced 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 company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, equities analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic's dividend payout ratio is currently 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.