Hopwood Financial Services Inc. Takes $68,000 Position in Medtronic plc (NYSE:MDT)

Hopwood Financial Services Inc. bought a new stake in Medtronic plc (NYSE:MDT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 850 shares of the medical technology company’s stock, valued at approximately $68,000.

Other large investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Medtronic during the fourth quarter worth $852,732,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Medtronic by 436.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock worth $661,125,000 after acquiring an additional 5,975,110 shares during the period. Van ECK Associates Corp lifted its holdings in Medtronic by 2,043.4% during the fourth quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company’s stock worth $207,540,000 after acquiring an additional 2,476,935 shares during the period. Bank of Montreal Can lifted its holdings in Medtronic by 65.0% during the third quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company’s stock worth $406,122,000 after acquiring an additional 1,790,483 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in Medtronic by 58.4% during the third quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company’s stock worth $346,705,000 after acquiring an additional 1,420,263 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

NYSE:MDT opened at $91.58 on Thursday. The firm has a market capitalization of $117.45 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 2.22 and a beta of 0.80. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25. The stock has a fifty day moving average of $89.12 and a 200 day moving average of $87.91. 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 (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, research analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s dividend payout ratio is 85.11%.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction dated 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 sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently commented on MDT. Robert W. Baird lifted their price target on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Sanford C. Bernstein lifted their price target on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and raised their target price for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. UBS Group raised their target price on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, Truist Financial decreased their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have assigned 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.com, the company currently has a consensus rating of “Hold” and a consensus 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.