SYM FINANCIAL Corp Buys Shares of 5,719 Medtronic plc (NYSE:MDT)

SYM FINANCIAL Corp acquired a new stake in Medtronic plc (NYSE:MDT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,719 shares of the medical technology company's stock, valued at approximately $457,000.

A number of other hedge funds have also modified their holdings of MDT. Centaurus Financial Inc. increased its position in Medtronic by 34.8% during the 2nd quarter. Centaurus Financial Inc. now owns 6,250 shares of the medical technology company's stock worth $492,000 after purchasing an additional 1,613 shares during the period. Czech National Bank grew its holdings in Medtronic by 3.3% during the third quarter. Czech National Bank now owns 261,279 shares of the medical technology company's stock worth $23,523,000 after acquiring an additional 8,249 shares during the period. Curbstone Financial Management Corp purchased a new position in Medtronic in the third quarter worth $413,000. Park Avenue Securities LLC lifted its holdings in Medtronic by 3.3% in the third quarter. Park Avenue Securities LLC now owns 24,993 shares of the medical technology company's stock valued at $2,250,000 after acquiring an additional 809 shares during the period. Finally, Biltmore Wealth Management LLC lifted its holdings in Medtronic by 8.0% in the third quarter. Biltmore Wealth Management LLC now owns 6,925 shares of the medical technology company's stock valued at $623,000 after acquiring an additional 510 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. This represents a 23.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company's stock.

Medtronic Stock Up 0.5 %

Shares of MDT traded up $0.46 during mid-day trading on Tuesday, reaching $90.99. 5,193,094 shares of the stock traded hands, compared to its average volume of 7,546,100. The stock has a fifty day simple moving average of $84.47 and a 200 day simple moving average of $86.16. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $93.08. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The firm has a market cap 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 released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 EPS. Sell-side analysts expect 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. Stockholders of record on Friday, December 27th were given a dividend of $0.70 per share. 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 payout ratio is currently 85.63%.

Analyst Ratings Changes

MDT has been the subject of a number of research analyst reports. Royal Bank of Canada upgraded shares of Medtronic from a "sector perform" rating to an "outperform" rating and increased their price target for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Robert W. Baird dropped their target price 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. 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. Wells Fargo & Company lowered their price target on Medtronic from $106.00 to $98.00 and set an "overweight" rating on the stock in a report on Wednesday, November 20th. Finally, Barclays lifted their price objective on Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a report on Tuesday, November 26th. One equities 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $95.00.

Medtronic Company 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.