Czech National Bank Acquires 16,786 Shares of Medtronic plc (NYSE:MDT)

Czech National Bank grew its holdings in Medtronic plc (NYSE:MDT) by 6.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 278,065 shares of the medical technology company’s stock after purchasing an additional 16,786 shares during the period. Czech National Bank’s holdings in Medtronic were worth $22,212,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Graypoint LLC raised its position in Medtronic by 7.6% in the 4th quarter. Graypoint LLC now owns 6,934 shares of the medical technology company’s stock worth $554,000 after buying an additional 490 shares during the last quarter. Lynch & Associates IN grew its stake in shares of Medtronic by 26.4% in the fourth quarter. Lynch & Associates IN now owns 9,259 shares of the medical technology company’s stock worth $740,000 after acquiring an additional 1,935 shares during the period. HBW Advisory Services LLC grew its stake in shares of Medtronic by 0.9% in the fourth quarter. HBW Advisory Services LLC now owns 34,284 shares of the medical technology company’s stock worth $2,739,000 after acquiring an additional 299 shares during the period. Franklin Street Advisors Inc. NC lifted its position in Medtronic by 32.6% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock valued at $5,873,000 after purchasing an additional 18,057 shares during the period. Finally, Hilltop National Bank boosted its holdings in Medtronic by 1.9% in the fourth quarter. Hilltop National Bank now owns 22,781 shares of the medical technology company’s stock worth $1,820,000 after purchasing an additional 424 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

In other news, EVP Brett A. Wall sold 9,850 shares of the firm’s stock in a transaction dated 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 owns 40,708 shares in the company, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MDT shares. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Wells Fargo & Company reduced their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Barclays increased their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Truist Financial cut their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and a consensus target price of $95.00.

Medtronic Stock Performance

Shares of NYSE MDT opened at $80.62 on Monday. The stock has a market cap of $103.38 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $92.68. The firm has a fifty day moving average price of $83.99 and a 200-day moving average price of $84.95. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last issued its quarterly earnings results 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 business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the prior year, the business posted $1.25 EPS. Medtronic’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.47%. Medtronic’s dividend payout ratio is presently 85.63%.

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.