Moment Partners LLC acquired a new stake in Medtronic plc (NYSE:MDT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,602 shares of the medical technology company's stock, valued at approximately $288,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Mainstream Capital Management LLC purchased a new position in Medtronic in the 4th quarter worth about $26,000. Stephens Consulting LLC grew its stake in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after acquiring an additional 204 shares in the last quarter. Rakuten Securities Inc. increased its position 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 stake in shares of Medtronic in the fourth quarter valued at approximately $36,000. Finally, Kieckhefer Group LLC purchased a new stake in shares of Medtronic in the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 82.06% of the company's stock.
Medtronic Stock Performance
NYSE:MDT traded down $1.36 during midday trading on Friday, hitting $87.62. The company's stock had a trading volume of 6,320,123 shares, compared to its average volume of 6,561,213. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two 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 market cap of $112.38 billion, a P/E ratio of 26.63, a P/E/G ratio of 2.22 and a beta of 0.80. The firm's 50 day moving average is $90.98 and its 200-day moving average is $88.01.
Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm had revenue of $8.29 billion during the quarter, compared to analysts' expectations of $8.33 billion. Equities analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.
Medtronic Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $0.70 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.20%. Medtronic's payout ratio is 85.11%.
Insider Buying and Selling at Medtronic
In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares of the company's stock, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on MDT. UBS Group lifted their target price on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and boosted their price target for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Truist Financial dropped their price objective on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $105.00 price objective on shares of Medtronic in a research note 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Medtronic has a consensus rating of "Hold" and a consensus price target of $96.07.
Check Out Our Latest Research Report on Medtronic
Medtronic Profile
(
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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