Bfsg LLC bought a new position in shares of Medtronic plc (NYSE:MDT – Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 828 shares of the medical technology company’s stock, valued at approximately $68,000.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. BKM Wealth Management LLC acquired a new stake in Medtronic in the 4th quarter worth about $941,000. International Assets Investment Management LLC raised its stake in Medtronic by 8,340.3% in the 4th quarter. International Assets Investment Management LLC now owns 1,038,579 shares of the medical technology company’s stock worth $85,558,000 after purchasing an additional 1,026,274 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Medtronic by 69.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 40,476 shares of the medical technology company’s stock worth $3,172,000 after purchasing an additional 16,574 shares in the last quarter. Ropes Wealth Advisors LLC raised its stake in Medtronic by 21.4% in the 3rd quarter. Ropes Wealth Advisors LLC now owns 7,205 shares of the medical technology company’s stock worth $565,000 after purchasing an additional 1,269 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its position in shares of Medtronic by 109,325.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 91,917 shares of the medical technology company’s stock valued at $7,572,000 after buying an additional 91,833 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.
Medtronic Trading Up 0.7 %
MDT opened at $79.80 on Friday. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. The firm has a market capitalization of $105.96 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 2.75 and a beta of 0.76. The company’s 50 day moving average price is $83.62 and its two-hundred day moving average price is $81.12.
Medtronic Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date was Thursday, March 21st. Medtronic’s dividend payout ratio is currently 87.90%.
Insider Activity
In other news, EVP Sean Salmon sold 30,695 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total value of $2,613,065.35. Following the sale, the executive vice president now directly owns 48,289 shares of the company’s stock, valued at approximately $4,110,842.57. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Michael Marinaro sold 854 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares in the company, valued at approximately $2,321,684.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sean Salmon sold 30,695 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the transaction, the executive vice president now owns 48,289 shares in the company, valued at approximately $4,110,842.57. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the stock. Mizuho boosted their target price on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Truist Financial boosted their target price on shares of Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. Oppenheimer boosted their target price on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and an average target price of $94.91.
View Our Latest Stock Report on Medtronic
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.
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