Medtronic plc (NYSE:MDT) Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC boosted its position in shares of Medtronic plc (NYSE:MDT) by 56.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,094 shares of the medical technology company’s stock after acquiring an additional 14,101 shares during the period. Park Avenue Securities LLC’s holdings in Medtronic were worth $3,123,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Kathmere Capital Management LLC acquired a new stake in Medtronic in the fourth quarter valued at $291,000. Assenagon Asset Management S.A. raised its position in shares of Medtronic by 3.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 60,400 shares of the medical technology company’s stock worth $4,825,000 after acquiring an additional 1,926 shares in the last quarter. San Luis Wealth Advisors LLC lifted its stake in Medtronic by 22.8% during the fourth quarter. San Luis Wealth Advisors LLC now owns 9,108 shares of the medical technology company’s stock worth $728,000 after purchasing an additional 1,692 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC boosted its holdings in Medtronic by 7.2% in the fourth quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 127,948 shares of the medical technology company’s stock valued at $10,221,000 after purchasing an additional 8,629 shares in the last quarter. Finally, Rockland Trust Co. increased its stake in Medtronic by 3.3% in the fourth quarter. Rockland Trust Co. now owns 15,781 shares of the medical technology company’s stock valued at $1,261,000 after purchasing an additional 504 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Robert W. Baird reduced their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Barclays upped their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Sanford C. Bernstein lifted their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Evercore ISI upped their target price on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Finally, Truist Financial dropped their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $95.00.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the company’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 directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by company insiders.

Medtronic Stock Up 2.1 %

MDT stock opened at $87.19 on Friday. The stock has a market capitalization of $111.80 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 2.28 and a beta of 0.83. The company has a fifty day moving average of $83.65 and a 200-day moving average of $85.01. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. Medtronic plc has a one year low of $75.96 and a one year high of $92.68.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter last year, the firm earned $1.25 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, analysts expect that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is presently 85.63%.

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.