11,521 Shares in Medtronic plc (NYSE:MDT) Acquired by AssuredPartners Investment Advisors LLC

AssuredPartners Investment Advisors LLC bought a new position in Medtronic plc (NYSE:MDT) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,521 shares of the medical technology company’s stock, valued at approximately $920,000.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Medtronic by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company’s stock valued at $9,921,367,000 after acquiring an additional 754,395 shares in the last quarter. State Street Corp boosted its stake in Medtronic by 0.9% during the 3rd quarter. State Street Corp now owns 60,731,367 shares of the medical technology company’s stock valued at $5,509,155,000 after purchasing an additional 520,027 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Medtronic in the 4th quarter worth $852,732,000. First Eagle Investment Management LLC raised its stake in shares of Medtronic by 0.3% in the fourth quarter. First Eagle Investment Management LLC now owns 9,792,200 shares of the medical technology company’s stock worth $782,201,000 after purchasing an additional 28,910 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Medtronic by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,002,051 shares of the medical technology company’s stock valued at $639,204,000 after purchasing an additional 134,647 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Medtronic

In related 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 value of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Medtronic Trading Up 0.9 %

Shares of NYSE:MDT opened at $89.00 on Friday. The stock has a 50 day moving average of $91.00 and a 200 day moving average of $88.05. The company has a market cap of $114.14 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. As a group, equities research analysts expect that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.70 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.15%. Medtronic’s payout ratio is 85.11%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a report on Wednesday, February 19th. Robert W. Baird raised their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Truist Financial lowered their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Medtronic has an average rating of “Hold” and an average price target 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.