3,568 Shares in Medtronic plc (NYSE:MDT) Bought by Secure Asset Management LLC

Secure Asset Management LLC purchased a new stake in Medtronic plc (NYSE:MDT) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 3,568 shares of the medical technology company’s stock, valued at approximately $285,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mackenzie Financial Corp lifted its position in shares of Medtronic by 29.4% in the 2nd quarter. Mackenzie Financial Corp now owns 654,839 shares of the medical technology company’s stock worth $51,542,000 after purchasing an additional 148,586 shares during the period. Scientech Research LLC acquired a new position in Medtronic in the second quarter valued at $522,000. Susquehanna Fundamental Investments LLC bought a new stake in Medtronic during the second quarter valued at $4,745,000. Creative Planning grew its holdings in Medtronic by 6.6% during the 2nd quarter. Creative Planning now owns 247,061 shares of the medical technology company’s stock worth $19,446,000 after acquiring an additional 15,305 shares during the period. Finally, Magnolia Capital Advisors LLC bought a new position in shares of Medtronic in the 2nd quarter worth about $4,484,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Trading Up 0.9 %

NYSE MDT opened at $90.07 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $83.75 and a 200 day simple moving average of $85.50. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68. The firm has a market capitalization of $115.49 billion, a P/E ratio of 27.54, a PEG ratio of 2.49 and a beta of 0.83.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $8.27 billion. During the same period last year, the firm earned $1.25 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. On average, analysts predict that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is presently 85.63%.

Analyst Ratings Changes

MDT has been the subject of several recent analyst reports. Citigroup raised their target price on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Wells Fargo & Company reduced their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Finally, Truist Financial cut their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $95.00.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. This represents a 19.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

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.