3,413 Shares in Medtronic plc (NYSE:MDT) Purchased by Sylvest Advisors LLC

Sylvest Advisors LLC purchased a new position in shares of Medtronic plc (NYSE:MDT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,413 shares of the medical technology company's stock, valued at approximately $273,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Fortitude Family Office LLC acquired a new position in Medtronic during the 3rd quarter worth $27,000. Highline Wealth Partners LLC bought a new position in shares of Medtronic during the third quarter worth about $27,000. Darwin Wealth Management LLC acquired a new position in Medtronic in the third quarter worth about $27,000. J. Stern & Co. LLP bought a new stake in Medtronic in the third quarter valued at about $30,000. Finally, Fiduciary Advisors Inc. acquired a new stake in Medtronic during the fourth quarter valued at approximately $36,000. Institutional investors own 82.06% of the company's stock.

Medtronic Stock Performance

Shares of MDT traded up $0.46 during trading hours on Tuesday, reaching $90.99. 5,193,094 shares of the company's stock traded hands, compared to its average volume of 7,546,100. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $93.08. The business's fifty day simple moving average is $84.47 and its two-hundred day simple moving average is $86.16. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The firm has a market capitalization of $116.67 billion, a price-to-earnings ratio of 27.82, a P/E/G ratio of 2.57 and a beta of 0.84.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company 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 posted $1.25 EPS. The business's revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts predict that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Friday, December 27th. Medtronic's dividend payout ratio is presently 85.63%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Royal Bank of Canada upgraded Medtronic from a "sector perform" rating to an "outperform" rating and lifted their target price for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. Sanford C. Bernstein lifted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a report on Wednesday, November 20th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a report on Monday, November 18th. Robert W. Baird decreased their price target 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. Finally, 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $95.00.

Insider Activity

In other news, EVP Brett A. Wall sold 9,850 shares of Medtronic 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 owns 40,708 shares of the company's stock, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.20% of the company's stock.

Medtronic Profile

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.