World Investment Advisors Increases Stock Position in Medtronic plc (NYSE:MDT)

World Investment Advisors boosted its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 11.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 141,005 shares of the medical technology company's stock after purchasing an additional 14,691 shares during the period. World Investment Advisors' holdings in Medtronic were worth $11,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in MDT. Mainstream Capital Management LLC acquired a new position in shares of Medtronic in the 4th quarter valued at about $26,000. Rakuten Securities Inc. raised its position in 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 in the last quarter. Stephens Consulting LLC lifted 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 acquiring an additional 204 shares during the period. Fiduciary Advisors Inc. purchased a new stake in Medtronic in the 4th quarter worth approximately $36,000. Finally, Chelsea Counsel Co. acquired a new stake in shares of Medtronic during the 3rd quarter worth approximately $45,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Price Performance

Shares of NYSE MDT traded down $5.03 during mid-day trading on Friday, reaching $82.86. The company's stock had a trading volume of 12,031,524 shares, compared to its average volume of 6,610,094. The stock has a market capitalization of $106.28 billion, a P/E ratio of 25.19, a P/E/G ratio of 2.22 and a beta of 0.79. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The stock has a 50-day moving average of $90.87 and a two-hundred day moving average of $87.93. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

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Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. The company had revenue of $8.29 billion during 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 anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Friday, March 28th. Medtronic's dividend payout ratio (DPR) is currently 85.11%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MDT shares. Robert W. Baird boosted their target price 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. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. UBS Group raised their target price on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Citigroup raised 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 report on Tuesday, March 4th. Finally, Truist Financial dropped their price objective on Medtronic from $93.00 to $89.00 and set a "hold" rating on the stock in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $96.07.

Insider Buying and Selling at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of the business's stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the transaction, the executive vice president now owns 40,708 shares of the company's stock, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by company insiders.

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.