Parcion Private Wealth LLC Purchases 3,921 Shares of Medtronic plc (NYSE:MDT)

Parcion Private Wealth LLC grew its stake in Medtronic plc (NYSE:MDT - Free Report) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,872 shares of the medical technology company's stock after purchasing an additional 3,921 shares during the quarter. Parcion Private Wealth LLC's holdings in Medtronic were worth $8,058,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Fortitude Family Office LLC bought a new stake in Medtronic in the 3rd quarter worth about $27,000. Darwin Wealth Management LLC purchased a new position in shares of Medtronic in the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC bought a new position in shares of Medtronic in the third quarter valued at approximately $27,000. J. Stern & Co. LLP bought a new position in shares of Medtronic in the third quarter valued at approximately $30,000. Finally, Stephens Consulting LLC increased its position in shares of Medtronic by 145.7% during 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 during the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Trading Up 2.3 %

Medtronic stock traded up $2.01 during mid-day trading on Friday, hitting $89.95. The company's stock had a trading volume of 11,600,480 shares, compared to its average volume of 7,464,932. The business has a 50 day moving average price of $85.93 and a 200-day moving average price of $87.03. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08. The stock has a market cap of $115.34 billion, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 2.46 and a beta of 0.84.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share 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 company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. As a group, analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic's dividend payout ratio is 85.11%.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 9,850 shares of the company's stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on MDT. UBS Group upped their price objective on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday. Barclays increased their price objective on Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. Truist Financial lowered their target price on Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a research note on Wednesday, December 18th. JPMorgan Chase & Co. cut their price target on Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a research note on Friday, November 15th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $105.00 target price on shares of Medtronic in a research note on Wednesday. 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 stock. Based on data from MarketBeat.com, Medtronic currently has an average rating of "Hold" and an average target price of $95.20.

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.