Meeder Asset Management Inc. Has $1.19 Million Position in Medtronic plc (NYSE:MDT)

Meeder Asset Management Inc. cut its stake in Medtronic plc (NYSE:MDT - Free Report) by 91.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,887 shares of the medical technology company's stock after selling 153,074 shares during the period. Meeder Asset Management Inc.'s holdings in Medtronic were worth $1,189,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MDT. Mainstream Capital Management LLC bought a new stake in shares of Medtronic in the fourth quarter valued at about $26,000. Stephens Consulting LLC raised its position in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after buying an additional 204 shares during the last quarter. Rakuten Securities Inc. raised its position in Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after buying an additional 294 shares during the last quarter. Fiduciary Advisors Inc. acquired a new position in Medtronic during the 4th quarter worth approximately $36,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Medtronic in the fourth quarter worth $40,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Performance

MDT traded down $1.38 on Tuesday, reaching $88.48. The company had a trading volume of 7,059,371 shares, compared to its average volume of 6,569,849. The company's fifty day moving average is $91.02 and its 200 day moving average is $87.99. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The stock has a market cap of $113.48 billion, a P/E ratio of 26.89, a P/E/G ratio of 2.22 and a beta of 0.80. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25.

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Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. As a group, analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.16%. Medtronic's payout ratio is presently 85.11%.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the firm's 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 transaction, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MDT has been the topic of several recent research reports. UBS Group lifted their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Robert W. Baird lifted their target price on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Royal Bank of Canada reissued an "outperform" rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Truist Financial lowered 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. Finally, Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $96.07.

About Medtronic

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.