Stonebridge Financial Group LLC acquired a new stake in shares of Medtronic plc (NYSE:MDT - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 30,520 shares of the medical technology company's stock, valued at approximately $2,438,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Fortitude Family Office LLC purchased a new stake in Medtronic in the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new stake in Medtronic during the third quarter valued at $27,000. Darwin Wealth Management LLC purchased a new position in Medtronic in the third quarter valued at $27,000. Stephens Consulting LLC raised its position in shares of Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after acquiring an additional 204 shares during the period. Finally, J. Stern & Co. LLP purchased a new position in Medtronic during the third quarter worth approximately $30,000. Institutional investors and hedge funds own 82.06% of the company's stock.
Insider Buying and Selling at Medtronic
In related news, EVP Brett A. Wall sold 12,437 shares of the company's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by insiders.
Medtronic Stock Up 0.4 %
NYSE MDT traded up $0.34 during trading on Tuesday, reaching $91.18. 6,534,547 shares of the company's stock were exchanged, compared to its average volume of 7,171,805. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08. The stock has a market cap of $116.92 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The company has a 50 day moving average price of $84.93 and a two-hundred day moving average price of $86.56.
Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm's revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.25 earnings per share. On average, equities research analysts anticipate that Medtronic plc will post 5.45 EPS for the current fiscal year.
Medtronic Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.07%. Medtronic's dividend payout ratio (DPR) is presently 85.63%.
Analyst Upgrades and Downgrades
MDT has been the subject of several research analyst reports. Wells Fargo & Company reduced their price target on shares of Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a research report on Wednesday, November 20th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research note on Monday, November 18th. Truist Financial lowered their price target on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a research report on Wednesday, December 18th. Barclays raised their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 26th. Finally, Robert W. Baird dropped their price objective on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating for the company in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $95.00.
Read Our Latest Stock Report on Medtronic
Medtronic Company 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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