Medtronic plc (NYSE:MDT) Shares Acquired by Andra AP fonden

Andra AP fonden lifted its position in Medtronic plc (NYSE:MDT) by 153.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,929 shares of the medical technology company’s stock after acquiring an additional 28,400 shares during the period. Andra AP fonden’s holdings in Medtronic were worth $3,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MDT. Philip James Wealth Mangement LLC boosted its position in Medtronic by 10.6% in the third quarter. Philip James Wealth Mangement LLC now owns 2,900 shares of the medical technology company’s stock valued at $261,000 after buying an additional 279 shares during the last quarter. Hollencrest Capital Management lifted its stake in Medtronic by 43.9% during the 3rd quarter. Hollencrest Capital Management now owns 737 shares of the medical technology company’s stock valued at $66,000 after acquiring an additional 225 shares during the period. Equitable Trust Co. boosted its holdings in shares of Medtronic by 23.0% in the 3rd quarter. Equitable Trust Co. now owns 20,677 shares of the medical technology company’s stock valued at $1,862,000 after acquiring an additional 3,869 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Medtronic in the third quarter worth $418,000. Finally, Beta Wealth Group Inc. raised its holdings in shares of Medtronic by 4.6% during the third quarter. Beta Wealth Group Inc. now owns 6,918 shares of the medical technology company’s stock worth $623,000 after purchasing an additional 306 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

MDT opened at $94.58 on Friday. The company has a market cap of $121.30 billion, a price-to-earnings ratio of 28.75, a PEG ratio of 2.22 and a beta of 0.80. The firm’s fifty day simple moving average is $88.33 and its two-hundred day simple moving average is $87.80. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $95.57.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Equities analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s payout ratio is 85.11%.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MDT has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. UBS Group upped their target price on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Barclays lifted their price target on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Truist Financial lowered their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company dropped their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $96.07.

Medtronic 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.