Dark Forest Capital Management LP Has $1.33 Million Stock Position in Medtronic plc (NYSE:MDT)

Dark Forest Capital Management LP increased its stake in shares of Medtronic plc (NYSE:MDT) by 183.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,644 shares of the medical technology company’s stock after purchasing an additional 10,779 shares during the period. Dark Forest Capital Management LP’s holdings in Medtronic were worth $1,330,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MDT. Alta Advisers Ltd boosted its stake in Medtronic by 19.6% during the 4th quarter. Alta Advisers Ltd now owns 4,185 shares of the medical technology company’s stock worth $334,000 after acquiring an additional 685 shares during the last quarter. Nippon Life Global Investors Americas Inc. bought a new position in shares of Medtronic during the fourth quarter worth $8,006,000. Van Lanschot Kempen Investment Management N.V. grew its holdings in shares of Medtronic by 14.3% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,874,734 shares of the medical technology company’s stock valued at $149,754,000 after buying an additional 234,629 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Medtronic by 54.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 73,128 shares of the medical technology company’s stock valued at $5,841,000 after buying an additional 25,933 shares in the last quarter. Finally, Trajan Wealth LLC raised its stake in Medtronic by 6.8% during the 4th quarter. Trajan Wealth LLC now owns 58,956 shares of the medical technology company’s stock worth $4,709,000 after buying an additional 3,767 shares during the period. 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 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on MDT. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and lifted their price target for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Robert W. Baird boosted their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. UBS Group boosted their price target on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Medtronic currently has an average rating of “Hold” and an average target price of $96.14.

Medtronic Price Performance

NYSE:MDT opened at $83.39 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The firm has a fifty day simple moving average of $88.54 and a 200 day simple moving average of $87.34. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The stock has a market capitalization of $106.95 billion, a PE ratio of 25.35, a P/E/G ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. On average, research analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.36%. Medtronic’s dividend payout ratio is 85.11%.

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.