2,437 Shares in Medtronic plc (NYSE:MDT) Bought by Team Hewins LLC

Team Hewins LLC purchased a new stake in shares of Medtronic plc (NYSE:MDT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,437 shares of the medical technology company’s stock, valued at approximately $202,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Equity Investment Corp boosted its position in shares of Medtronic by 27.9% in the 4th quarter. Equity Investment Corp now owns 1,341,079 shares of the medical technology company’s stock worth $110,478,000 after purchasing an additional 292,459 shares in the last quarter. Loudon Investment Management LLC grew its stake in shares of Medtronic by 9.5% during the fourth quarter. Loudon Investment Management LLC now owns 10,026 shares of the medical technology company’s stock worth $786,000 after acquiring an additional 874 shares during the last quarter. BKM Wealth Management LLC acquired a new position in shares of Medtronic during the fourth quarter valued at about $941,000. International Assets Investment Management LLC raised its position in shares of 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 valued at $85,558,000 after purchasing an additional 1,026,274 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of 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 valued at $3,172,000 after purchasing an additional 16,574 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of NYSE MDT opened at $82.29 on Monday. The stock has a market capitalization of $109.27 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 2.69 and a beta of 0.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 1.55. The firm’s 50 day simple moving average is $82.81 and its 200-day simple moving average is $82.83. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $91.00.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.01. The business had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.44 billion. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. The business’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.57 earnings per share. Analysts expect that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.40%. This is a boost from Medtronic’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, June 28th. Medtronic’s payout ratio is presently 101.82%.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of recent analyst reports. Truist Financial cut their price target on shares of Medtronic from $90.00 to $88.00 and set a “hold” rating on the stock in a research note on Friday. UBS Group raised their target price on Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a research note on Friday. Mizuho boosted their price target on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Friday. Finally, Wells Fargo & Company upped their target price on Medtronic from $102.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $94.00.

Insiders Place Their Bets

In other news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.30% of the stock is owned by company 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.