R Squared Ltd Buys Shares of 11,450 Medtronic plc (NYSE:MDT)

R Squared Ltd purchased a new position in Medtronic plc (NYSE:MDT) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,450 shares of the medical technology company’s stock, valued at approximately $915,000. Medtronic makes up about 0.9% of R Squared Ltd’s investment portfolio, making the stock its 7th biggest holding.

Several other institutional investors have also made changes to their positions in MDT. Clear Harbor Asset Management LLC grew its position in shares of Medtronic by 1.2% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock worth $861,000 after buying an additional 111 shares during the period. Guardian Wealth Management Inc. increased its holdings in Medtronic by 0.9% in the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock valued at $1,182,000 after purchasing an additional 115 shares during the last quarter. First PREMIER Bank lifted its stake in Medtronic by 1.8% in the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after buying an additional 116 shares during the period. First City Capital Management Inc. grew its position in shares of Medtronic by 2.9% during the 3rd quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock worth $371,000 after buying an additional 116 shares during the period. Finally, Hardy Reed LLC increased its stake in shares of Medtronic by 4.4% in the 3rd quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock valued at $247,000 after acquiring an additional 116 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Down 0.4 %

Medtronic stock opened at $92.13 on Wednesday. The company has a market cap of $118.13 billion, a price-to-earnings ratio of 28.17, a P/E/G ratio of 2.49 and a beta of 0.83. The firm has a 50-day moving average of $83.85 and a 200-day moving average of $85.73. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a one year low of $75.96 and a one year high of $93.08.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 earnings per share. On average, equities analysts expect that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced 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. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.04%. Medtronic’s payout ratio is 85.63%.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was 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 owns 40,979 shares of the company’s stock, valued at $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of recent analyst reports. Truist Financial reduced their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Barclays increased their price target on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Robert W. Baird lowered their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. cut their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and an average price target of $95.00.

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.