Bank of Montreal Can decreased its holdings in Medtronic plc (NYSE:MDT - Free Report) by 44.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,543,947 shares of the medical technology company's stock after selling 2,002,872 shares during the quarter. Bank of Montreal Can owned about 0.20% of Medtronic worth $203,211,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of MDT. Mainstream Capital Management LLC purchased a new stake in shares of Medtronic during the fourth quarter worth approximately $26,000. 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 acquiring an additional 204 shares in the last quarter. Rakuten Securities Inc. increased its stake in shares of Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after acquiring an additional 294 shares during the period. Fiduciary Advisors Inc. purchased a new position in Medtronic during the fourth quarter worth about $36,000. Finally, Kieckhefer Group LLC acquired a new stake in Medtronic in the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 82.06% of the company's stock.
Insider Buying and Selling
In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction dated 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 completion of the sale, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
MDT has been the subject of a number of analyst reports. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. Robert W. Baird raised their target price on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Truist Financial lowered their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research note on Friday. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Medtronic has a consensus rating of "Hold" and an average target price of $96.14.
View Our Latest Analysis on Medtronic
Medtronic Price Performance
NYSE:MDT traded up $0.06 during trading hours on Friday, reaching $82.60. 2,814,265 shares of the company traded hands, compared to its average volume of 6,657,694. 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's 50-day moving average is $89.88 and its 200-day moving average is $87.69. The stock has a market cap of $105.93 billion, a P/E ratio of 25.09, a P/E/G ratio of 2.22 and a beta of 0.79. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25.
Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data 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. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Equities research analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.
Medtronic Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Friday, March 28th. Medtronic's dividend payout ratio is presently 85.11%.
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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