Sagespring Wealth Partners LLC acquired a new stake in Medtronic plc (NYSE:MDT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 17,684 shares of the medical technology company's stock, valued at approximately $1,413,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Morse Asset Management Inc acquired a new position in Medtronic in the 3rd quarter valued at $225,000. Te Ahumairangi Investment Management Ltd raised its stake in Medtronic by 4.1% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 52,321 shares of the medical technology company's stock valued at $4,684,000 after purchasing an additional 2,050 shares in the last quarter. Chelsea Counsel Co. bought a new stake in Medtronic during the third quarter worth about $45,000. Tudor Financial Inc. bought a new stake in Medtronic during the third quarter worth about $586,000. Finally, Anchor Investment Management LLC grew its stake in Medtronic by 1.2% during the third quarter. Anchor Investment Management LLC now owns 107,518 shares of the medical technology company's stock worth $9,680,000 after buying an additional 1,271 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.
Analyst Ratings Changes
MDT has been the subject of several analyst reports. UBS Group boosted their target price on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Robert W. Baird boosted their price target on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Finally, Truist Financial dropped their price objective on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research report on Friday. One investment 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 stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $96.14.
Get Our Latest Research Report on Medtronic
Insider Buying and Selling at Medtronic
In other news, EVP Brett A. Wall sold 12,437 shares of the business's 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 transaction, the executive vice president now directly owns 40,979 shares of the company's stock, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company's stock.
Medtronic Trading Down 2.3 %
MDT traded down $1.96 during midday trading on Tuesday, hitting $82.26. 5,524,849 shares of the company were exchanged, compared to its average volume of 6,676,044. The firm has a market capitalization of $105.51 billion, a P/E ratio of 25.00, a P/E/G ratio of 2.22 and a beta of 0.79. The firm's 50 day moving average price is $89.56 and its 200-day moving average price is $87.60. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. 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 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. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. As a group, equities analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.
Medtronic Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $0.70 dividend. The ex-dividend date was Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.40%. Medtronic's payout ratio is 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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