Medtronic plc (NYSE:MDT) Shares Purchased by Two Point Capital Management Inc.

Two Point Capital Management Inc. lifted its stake in Medtronic plc (NYSE:MDT) by 0.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 92,159 shares of the medical technology company’s stock after acquiring an additional 437 shares during the quarter. Medtronic accounts for 2.9% of Two Point Capital Management Inc.’s investment portfolio, making the stock its 18th largest position. Two Point Capital Management Inc.’s holdings in Medtronic were worth $8,145,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Van ECK Associates Corp lifted its holdings in Medtronic by 2,043.4% during the 4th quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company’s stock worth $207,540,000 after buying an additional 2,476,935 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Medtronic by 1.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,061,405 shares of the medical technology company’s stock worth $85,134,000 after buying an additional 18,900 shares in the last quarter. Marks Group Wealth Management Inc lifted its holdings in Medtronic by 1.0% during the 4th quarter. Marks Group Wealth Management Inc now owns 34,612 shares of the medical technology company’s stock worth $2,765,000 after buying an additional 349 shares in the last quarter. Jmac Enterprises LLC lifted its holdings in Medtronic by 5.7% during the 4th quarter. Jmac Enterprises LLC now owns 11,107 shares of the medical technology company’s stock worth $887,000 after buying an additional 600 shares in the last quarter. Finally, Kentucky Trust Co acquired a new stake in Medtronic during the 4th quarter worth approximately $1,362,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their target price 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. Truist Financial reduced their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Barclays raised their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Wells Fargo & Company reduced their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Finally, Sanford C. Bernstein raised their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Medtronic presently has a consensus rating of “Hold” and a consensus target price of $95.00.

Medtronic Trading Up 0.2 %

Shares of Medtronic stock opened at $91.35 on Thursday. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The company has a market capitalization of $117.14 billion, a P/E ratio of 27.94, a PEG ratio of 2.57 and a beta of 0.84. The company’s fifty day moving average is $85.04 and its two-hundred day moving average is $86.65.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period last year, the firm posted $1.25 EPS. Medtronic’s revenue for the quarter was up 5.2% on a year-over-year basis. Analysts forecast that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s payout ratio is currently 85.63%.

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.