Nilsine Partners LLC purchased a new position in Medtronic plc (NYSE:MDT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,009 shares of the medical technology company's stock, valued at approximately $240,000.
A number of other large investors have also modified their holdings of MDT. Fortitude Family Office LLC acquired a new stake in shares of Medtronic during the third quarter worth $27,000. Darwin Wealth Management LLC acquired a new stake in Medtronic during the 3rd quarter worth about $27,000. Highline Wealth Partners LLC purchased a new stake in Medtronic during the 3rd quarter valued at about $27,000. J. Stern & Co. LLP acquired a new stake in shares of Medtronic during the third quarter worth about $30,000. Finally, Chelsea Counsel Co. acquired a new stake in shares of Medtronic during the third quarter worth about $45,000. Hedge funds and other institutional investors own 82.06% of the company's stock.
Medtronic Price Performance
Shares of NYSE:MDT traded up $0.60 during midday trading on Thursday, hitting $92.01. The company's stock had a trading volume of 5,101,472 shares, compared to its average volume of 7,780,043. The company has a market cap of $117.98 billion, a P/E ratio of 28.14, a price-to-earnings-growth ratio of 2.49 and a beta of 0.83. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $93.08. The business's 50 day simple moving average is $84.14 and its 200 day simple moving average is $85.87. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.
Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period in the prior year, the business earned $1.25 earnings per share. The business's revenue was up 5.2% compared to the same quarter last year. On average, analysts forecast that Medtronic plc will post 5.45 EPS for the current year.
Medtronic Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.04%. Medtronic's payout ratio is 85.63%.
Insider Activity at Medtronic
In other news, EVP Brett A. Wall sold 9,850 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on MDT. Truist Financial reduced their price target on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a research report on Wednesday, December 18th. Sanford C. Bernstein raised their target price on shares of Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a report on Wednesday, November 20th. Robert W. Baird cut their price target on Medtronic from $96.00 to $93.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 20th. JPMorgan Chase & Co. decreased their price objective on Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a report on Friday, November 15th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $95.00.
Check Out Our Latest Research Report on MDT
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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