Rhumbline Advisers Has $203.13 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Rhumbline Advisers boosted its stake in shares of Medtronic plc (NYSE:MDT) by 0.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,542,938 shares of the medical technology company’s stock after buying an additional 7,596 shares during the period. Rhumbline Advisers owned approximately 0.20% of Medtronic worth $203,130,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new stake in shares of Medtronic during the third quarter worth $27,000. Highline Wealth Partners LLC bought a new position in Medtronic during the 3rd quarter worth about $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic in the 3rd quarter valued at about $27,000. Stephens Consulting LLC lifted its holdings in shares of 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 purchasing an additional 204 shares in the last quarter. Finally, J. Stern & Co. LLP acquired a new position in shares of Medtronic during the third quarter worth about $30,000. Institutional investors own 82.06% of the company’s stock.

Insider Activity

In related news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the transaction, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This represents a 23.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Truist Financial dropped their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. JPMorgan Chase & Co. lowered their price objective 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. Barclays increased their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Sanford C. Bernstein lifted their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Finally, 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 note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $95.00.

Medtronic Trading Up 0.9 %

Shares of NYSE:MDT opened at $93.02 on Friday. The company has a 50-day simple moving average of $85.33 and a 200 day simple moving average of $86.72. The company has a market capitalization of $119.28 billion, a P/E ratio of 28.45, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. 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 52-week low of $75.96 and a 52-week high of $93.08.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The company 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 revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $1.25 earnings per share. Sell-side analysts forecast that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.01%. Medtronic’s dividend payout ratio is currently 85.63%.

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.