Assetmark Inc. Buys 36,760 Shares of Medtronic plc (NYSE:MDT)

Assetmark Inc. boosted its stake in shares of Medtronic plc (NYSE:MDT) by 14.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 287,261 shares of the medical technology company’s stock after buying an additional 36,760 shares during the quarter. Assetmark Inc.’s holdings in Medtronic were worth $22,946,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in MDT. Mainstream Capital Management LLC bought a new position in Medtronic during the fourth quarter valued at about $26,000. Darwin Wealth Management LLC purchased a new stake in Medtronic during the third 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 worth $27,000 after buying an additional 204 shares in the last quarter. J. Stern & Co. LLP purchased a new stake in shares of Medtronic in the third quarter worth about $30,000. Finally, Fiduciary Advisors Inc. purchased a new stake in shares of Medtronic in the fourth quarter worth about $36,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

MDT opened at $94.15 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The stock has a market capitalization of $120.75 billion, a P/E ratio of 28.62, a P/E/G ratio of 2.22 and a beta of 0.84. The company’s 50-day simple moving average is $87.82 and its two-hundred day simple moving average is $87.68. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $95.57.

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

Insider Buying and Selling

In other news, EVP Brett A. Wall sold 12,437 shares of the 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 completion of the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. This represents 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. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MDT. Truist Financial lowered their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. JPMorgan Chase & Co. cut 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. Sanford C. Bernstein raised their target price on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Barclays lifted their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, Robert W. Baird raised their price objective on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company 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.