Xponance Inc. Increases Position in Medtronic plc (NYSE:MDT)

Xponance Inc. boosted its holdings in Medtronic plc (NYSE:MDT - Free Report) by 3.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,501 shares of the medical technology company's stock after buying an additional 6,222 shares during the period. Xponance Inc.'s holdings in Medtronic were worth $15,057,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Copley Financial Group Inc. purchased a new position in shares of Medtronic during the 3rd quarter valued at $694,000. Franklin Street Advisors Inc. NC grew its position in shares of Medtronic by 32.6% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company's stock valued at $5,873,000 after purchasing an additional 18,057 shares in the last quarter. Y Intercept Hong Kong Ltd grew its position in shares of Medtronic by 322.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company's stock valued at $6,626,000 after purchasing an additional 56,178 shares in the last quarter. Olstein Capital Management L.P. grew its position in shares of Medtronic by 8.0% during the 4th quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company's stock valued at $7,509,000 after purchasing an additional 7,000 shares in the last quarter. Finally, Czech National Bank grew its position in shares of Medtronic by 6.4% during the 4th quarter. Czech National Bank now owns 278,065 shares of the medical technology company's stock valued at $22,212,000 after purchasing an additional 16,786 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

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Medtronic Trading Down 0.9 %

Shares of NYSE:MDT traded down $0.85 during midday trading on Friday, hitting $90.37. 14,027,607 shares of the stock traded hands, compared to its average volume of 6,103,055. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The business's 50 day moving average is $90.67 and its two-hundred day moving average is $88.08. The stock has a market capitalization of $115.90 billion, a PE ratio of 27.47, a P/E/G ratio of 2.22 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. The company had revenue of $8.29 billion for the quarter, compared to analysts' expectations of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. As a group, research analysts forecast that Medtronic plc will post 5.46 earnings per share for the current 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 $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Friday, March 28th. Medtronic's dividend payout ratio (DPR) is presently 85.11%.

Insiders Place Their Bets

In related news, EVP Brett A. Wall sold 9,850 shares of the 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 transaction, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.20% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on MDT shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $105.00 price objective on shares of Medtronic in a report on Wednesday, February 19th. Citigroup raised shares of Medtronic from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Robert W. Baird lifted their price objective on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Truist Financial dropped their price objective 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. Finally, Barclays lifted their price objective on shares of 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, eight have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $96.07.

About Medtronic

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.