United Capital Financial Advisors LLC Buys 77,010 Shares of Medtronic plc (NYSE:MDT)

United Capital Financial Advisors LLC raised its position in Medtronic plc (NYSE:MDT - Free Report) by 19.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 464,436 shares of the medical technology company's stock after purchasing an additional 77,010 shares during the period. United Capital Financial Advisors LLC's holdings in Medtronic were worth $37,099,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Mainstream Capital Management LLC purchased a new position in Medtronic in the 4th quarter worth approximately $26,000. Stephens Consulting LLC boosted its holdings in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 204 shares during the last quarter. Rakuten Securities Inc. grew its stake in Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 294 shares in the last quarter. Fiduciary Advisors Inc. purchased a new stake in Medtronic during the 4th quarter worth approximately $36,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Medtronic during the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MDT shares. Truist Financial dropped their target price on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Robert W. Baird upped their target price on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Royal Bank of Canada restated an "outperform" rating and set a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and upped their price target for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $96.14.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by company insiders.

Medtronic Price Performance

Shares of NYSE MDT traded down $0.12 during midday trading on Friday, reaching $82.58. The company's stock had a trading volume of 5,937,486 shares, compared to its average volume of 6,674,143. The company has a market cap of $105.91 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The company has a 50 day moving average price of $88.91 and a 200 day moving average price of $87.42. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48.

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, topping the consensus estimate of $1.36 by $0.03. The business had revenue of $8.29 billion for 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%. On average, equities research analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.39%. Medtronic's dividend payout ratio is 85.11%.

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.