Wellington Management Group LLP lowered its position in Medtronic plc (NYSE:MDT - Free Report) by 32.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 12,392,532 shares of the medical technology company's stock after selling 6,004,612 shares during the period. Wellington Management Group LLP owned 0.97% of Medtronic worth $989,915,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of the company. Mainstream Capital Management LLC acquired a new position in shares of Medtronic during the fourth quarter valued at about $26,000. Rakuten Securities Inc. lifted its position in Medtronic by 753.8% in the 4th 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 in the last quarter. Stephens Consulting LLC lifted its position in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 204 shares in the last quarter. Fiduciary Advisors Inc. acquired a new position in Medtronic during the 4th quarter valued at about $36,000. Finally, Chelsea Counsel Co. bought a new stake in Medtronic during the 3rd quarter worth approximately $45,000. Institutional investors own 82.06% of the company's stock.
Analyst Ratings Changes
MDT has been the topic of several analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. UBS Group lifted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Truist Financial lowered their target price on shares of Medtronic from $93.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, December 18th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Finally, Robert W. Baird increased their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $96.07.
View Our Latest Analysis on MDT
Insiders Place Their Bets
In related news, EVP Brett A. Wall sold 9,850 shares of the company's stock in a transaction that occurred 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 approximately $3,273,330.28. This represents a 19.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company's stock.
Medtronic Stock Performance
Shares of MDT stock traded down $1.38 during trading hours on Tuesday, hitting $88.48. 7,059,371 shares of the company were exchanged, compared to its average volume of 6,577,190. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $113.48 billion, a price-to-earnings ratio of 26.89, a P/E/G ratio of 2.22 and a beta of 0.80. The firm has a fifty day simple moving average of $91.02 and a 200 day simple moving average of $87.98. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25.
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 (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Research analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.
Medtronic Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic's dividend payout ratio (DPR) is presently 85.11%.
About Medtronic
(
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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