Regatta Capital Group LLC Buys 709 Shares of Medtronic plc (NYSE:MDT)

Regatta Capital Group LLC increased its stake in Medtronic plc (NYSE:MDT) by 3.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,064 shares of the medical technology company’s stock after purchasing an additional 709 shares during the period. Regatta Capital Group LLC’s holdings in Medtronic were worth $1,683,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new stake in shares of Medtronic during the third quarter worth $27,000. Darwin Wealth Management LLC acquired a new stake in Medtronic in the third quarter worth about $27,000. Highline Wealth Partners LLC bought a new stake in Medtronic during the 3rd quarter worth about $27,000. J. Stern & Co. LLP acquired a new position in Medtronic during the 3rd quarter valued at about $30,000. Finally, Chelsea Counsel Co. bought a new position in Medtronic in the third quarter valued at approximately $45,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity

In other news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the transaction, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Truist Financial cut their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Robert W. Baird lowered their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Evercore ISI lifted their price target on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Wells Fargo & Company lowered their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Finally, Sanford C. Bernstein lifted their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. One research 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, Medtronic currently has a consensus rating of “Hold” and a consensus target price of $95.00.

Medtronic Stock Performance

Shares of MDT opened at $90.07 on Friday. The firm 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 company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $115.49 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 2.49 and a beta of 0.83.

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

Medtronic Announces Dividend

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