Poinciana Advisors Group LLC Invests $341,000 in Medtronic plc (NYSE:MDT)

Poinciana Advisors Group LLC bought a new position in shares of Medtronic plc (NYSE:MDT) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,274 shares of the medical technology company’s stock, valued at approximately $341,000.

Several other large investors have also made changes to their positions in MDT. Aptus Capital Advisors LLC increased its position in shares of Medtronic by 14.9% during the third quarter. Aptus Capital Advisors LLC now owns 11,500 shares of the medical technology company’s stock worth $1,035,000 after purchasing an additional 1,487 shares in the last quarter. Huntington National Bank increased its position in shares of Medtronic by 3.3% during the third quarter. Huntington National Bank now owns 124,185 shares of the medical technology company’s stock worth $11,180,000 after purchasing an additional 3,917 shares in the last quarter. KBC Group NV increased its position in shares of Medtronic by 78.3% during the third quarter. KBC Group NV now owns 654,279 shares of the medical technology company’s stock worth $58,905,000 after purchasing an additional 287,396 shares in the last quarter. Curi RMB Capital LLC purchased a new stake in shares of Medtronic during the third quarter worth approximately $521,000. Finally, Metis Global Partners LLC increased its position in shares of Medtronic by 1.4% during the third quarter. Metis Global Partners LLC now owns 54,238 shares of the medical technology company’s stock worth $4,883,000 after purchasing an additional 759 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Performance

NYSE MDT opened at $93.18 on Friday. The stock has a market cap of $119.51 billion, a PE ratio of 28.32, a P/E/G ratio of 2.22 and a beta of 0.80. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The stock has a fifty day simple moving average of $89.61 and a 200-day simple moving average of $87.96.

Medtronic (NYSE:MDT) last posted its 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. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Equities analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently announced 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 3.00%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s payout ratio is 85.11%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MDT. UBS Group boosted their price target on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Royal Bank of Canada restated an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. Truist Financial dropped their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. JPMorgan Chase & Co. dropped their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $96.07.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of the 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 transaction, the executive vice president now owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by corporate 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.