Vanguard Group Inc. raised its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 124,203,387 shares of the medical technology company's stock after purchasing an additional 754,395 shares during the period. Vanguard Group Inc. owned 9.69% of Medtronic worth $9,921,367,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mainstream Capital Management LLC bought a new stake in Medtronic during the fourth quarter worth approximately $26,000. Stephens Consulting LLC raised its holdings in Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after buying an additional 204 shares during the period. Rakuten Securities Inc. raised its holdings in shares of Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 294 shares during the period. J. Stern & Co. LLP purchased a new stake in shares of Medtronic in the third quarter valued at $30,000. Finally, Fiduciary Advisors Inc. purchased a new stake in Medtronic in the 4th quarter worth about $36,000. Institutional investors own 82.06% of the company's stock.
Insider Transactions at Medtronic
In related news, EVP Brett A. Wall sold 9,850 shares of the firm's stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the sale, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on MDT shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Truist Financial dropped their price target 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. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Barclays increased their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $96.07.
Get Our Latest Research Report on MDT
Medtronic Trading Down 1.3 %
Shares of NYSE:MDT traded down $1.15 during midday trading on Tuesday, hitting $88.98. The company had a trading volume of 2,254,951 shares, compared to its average volume of 7,651,336. 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 plc has a 12 month low of $75.96 and a 12 month high of $96.25. The firm has a fifty day simple moving average of $90.84 and a 200 day simple moving average of $88.05. The stock has a market cap of $114.12 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 2.22 and a beta of 0.80.
Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, analysts predict that Medtronic plc will post 5.46 EPS for the current year.
Medtronic Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.15%. Medtronic's dividend payout ratio (DPR) is presently 85.11%.
Medtronic Profile
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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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