Transamerica Financial Advisors Inc. Raises Position in Medtronic plc (NYSE:MDT)

Transamerica Financial Advisors Inc. grew its stake in shares of Medtronic plc (NYSE:MDT) by 17.4% in the fourth quarter, HoldingsChannel reports. The fund owned 8,904 shares of the medical technology company’s stock after buying an additional 1,318 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Medtronic were worth $712,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Beutel Goodman & Co Ltd. purchased a new position in Medtronic during the fourth quarter worth approximately $377,169,000. Allstate Corp purchased a new position in shares of Medtronic in the 4th quarter worth $3,055,000. Alerus Financial NA lifted its stake in shares of Medtronic by 637.3% in the 4th quarter. Alerus Financial NA now owns 33,960 shares of the medical technology company’s stock valued at $2,713,000 after purchasing an additional 29,354 shares in the last quarter. Level Four Advisory Services LLC grew its holdings in shares of Medtronic by 0.8% during the 4th quarter. Level Four Advisory Services LLC now owns 40,982 shares of the medical technology company’s stock worth $3,274,000 after purchasing an additional 325 shares during the period. Finally, Slagle Financial LLC raised its holdings in Medtronic by 7.6% in the fourth quarter. Slagle Financial LLC now owns 33,176 shares of the medical technology company’s stock valued at $2,650,000 after buying an additional 2,350 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on MDT. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Robert W. Baird raised their price target on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Royal Bank of Canada restated an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. UBS Group raised their price objective on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Truist Financial decreased their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $96.07.

Medtronic Stock Performance

MDT opened at $87.62 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average is $90.98 and its 200-day moving average is $88.01. The stock has a market cap of $112.38 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25.

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

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Friday, March 28th. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

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.