Medtronic plc (NYSE:MDT) Stake Raised by Fmr LLC

Fmr LLC increased its holdings in Medtronic plc (NYSE:MDT) by 14.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,104,985 shares of the medical technology company’s stock after purchasing an additional 265,416 shares during the quarter. Fmr LLC owned 0.16% of Medtronic worth $168,146,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MDT. Morse Asset Management Inc acquired a new stake in shares of Medtronic in the third quarter worth $225,000. Sunbelt Securities Inc. increased its stake in Medtronic by 6.8% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,316 shares of the medical technology company’s stock valued at $299,000 after buying an additional 210 shares during the period. Te Ahumairangi Investment Management Ltd boosted its stake in shares of Medtronic by 4.1% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 52,321 shares of the medical technology company’s stock valued at $4,684,000 after buying an additional 2,050 shares during the period. Chelsea Counsel Co. purchased a new position in shares of Medtronic during the 3rd quarter valued at $45,000. Finally, Tudor Financial Inc. acquired a new position in shares of Medtronic in the third quarter worth $586,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.20% of the company’s stock.

Medtronic Stock Up 0.2 %

Shares of MDT opened at $82.69 on Friday. The firm has a market cap of $106.05 billion, a P/E ratio of 25.13, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The firm’s 50-day simple moving average is $89.71 and its 200 day simple moving average is $87.65.

Medtronic (NYSE:MDT) last posted its 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. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. On average, analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a $0.70 dividend. The ex-dividend date was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.39%. Medtronic’s dividend payout ratio (DPR) is 85.11%.

Analyst Ratings Changes

MDT has been the subject of a number of recent research reports. UBS Group raised their price target on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Truist Financial cut their target price on Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a report on Friday. Finally, Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and upped their price target for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $96.14.

Medtronic Company 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.