Cary Street Partners Financial LLC bought a new stake in Medtronic plc (NYSE:MDT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 47,286 shares of the medical technology company's stock, valued at approximately $3,777,000.
Several other institutional investors also recently added to or reduced their stakes in MDT. Nordea Investment Management AB lifted its position in shares of Medtronic by 1.0% in the 4th quarter. Nordea Investment Management AB now owns 2,819,486 shares of the medical technology company's stock worth $225,023,000 after acquiring an additional 27,695 shares during the period. CWA Asset Management Group LLC raised its position in Medtronic by 24.0% in the fourth quarter. CWA Asset Management Group LLC now owns 5,752 shares of the medical technology company's stock worth $459,000 after purchasing an additional 1,113 shares in the last quarter. Diversified Trust Co boosted its holdings in Medtronic by 1,160.9% during the fourth quarter. Diversified Trust Co now owns 78,753 shares of the medical technology company's stock valued at $6,291,000 after purchasing an additional 72,507 shares in the last quarter. InvesTrust acquired a new stake in Medtronic during the fourth quarter valued at approximately $337,000. Finally, Farmers Trust Co. lifted its position in shares of Medtronic by 0.6% during the 4th quarter. Farmers Trust Co. now owns 65,310 shares of the medical technology company's stock worth $5,217,000 after buying an additional 365 shares during the period. 82.06% of the stock is owned by institutional investors.
Medtronic Stock Down 0.2 %
NYSE MDT traded down $0.15 on Friday, reaching $83.47. The company had a trading volume of 6,587,919 shares, compared to its average volume of 6,720,752. The company's fifty day moving average is $86.76 and its 200-day moving average is $86.83. The firm has a market capitalization of $107.05 billion, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25.
Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, research analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal year.
Medtronic Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.35%. Medtronic's dividend payout ratio is 85.11%.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the company. Robert W. Baird lifted their price objective on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Truist Financial reduced their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. UBS Group raised their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Finally, Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and raised their price target for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $96.14.
Check Out Our Latest Report on Medtronic
About Medtronic
(
Free Report)
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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