39,939 Shares in Medtronic plc (NYSE:MDT) Purchased by Scissortail Wealth Management LLC

Scissortail Wealth Management LLC acquired 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 Securities and Exchange Commission (SEC). The institutional investor acquired 39,939 shares of the medical technology company's stock, valued at approximately $3,492,000. Medtronic accounts for 1.1% of Scissortail Wealth Management LLC's investment portfolio, making the stock its 26th biggest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Morgan Stanley raised its stake in Medtronic by 9.2% during the third quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company's stock worth $1,863,229,000 after acquiring an additional 1,994,123 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Medtronic by 2.6% during the third quarter. Bank of New York Mellon Corp now owns 20,392,467 shares of the medical technology company's stock worth $1,597,954,000 after acquiring an additional 508,205 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in Medtronic by 127,655.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 14,160,371 shares of the medical technology company's stock worth $1,100,544,000 after acquiring an additional 14,149,287 shares in the last quarter. Norges Bank acquired a new position in Medtronic during the fourth quarter worth about $1,062,316,000. Finally, Northern Trust Corp raised its stake in Medtronic by 2.1% during the third quarter. Northern Trust Corp now owns 13,622,933 shares of the medical technology company's stock worth $1,067,493,000 after acquiring an additional 285,819 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Insiders Place Their Bets

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now directly owns 27,925 shares in the company, valued at approximately $2,321,684.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Sean Salmon sold 30,695 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total value of $2,613,065.35. Following the transaction, the executive vice president now directly owns 48,289 shares in the company, valued at approximately $4,110,842.57. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Marinaro sold 854 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The disclosure for this sale can be found here. Company insiders own 0.30% of the company's stock.

Medtronic Trading Down 1.2 %

Shares of Medtronic stock traded down $0.98 on Tuesday, reaching $79.25. 7,673,947 shares of the company's stock were exchanged, compared to its average volume of 6,319,557. The company has a market capitalization of $105.23 billion, a P/E ratio of 25.55, a price-to-earnings-growth ratio of 2.74 and a beta of 0.76. Medtronic plc has a 52 week low of $68.84 and a 52 week high of $92.02. The firm's 50-day moving average is $84.52 and its two-hundred day moving average is $81.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.26 by $0.04. The firm had revenue of $8.09 billion for the quarter, compared to analysts' expectations of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.30 EPS. Sell-side analysts predict that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Thursday, March 21st. Medtronic's payout ratio is 87.90%.

Analysts Set New Price Targets

MDT has been the subject of several research analyst reports. Royal Bank of Canada reissued a "sector perform" rating and set a $92.00 target price on shares of Medtronic in a research note on Wednesday, February 21st. Oppenheimer upped their price objective on Medtronic from $89.00 to $92.00 and gave the company a "market perform" rating in a research note on Wednesday, February 21st. Truist Financial upped their price objective on Medtronic from $87.00 to $90.00 and gave the company a "hold" rating in a research note on Wednesday, February 21st. Finally, Mizuho upped their price objective on Medtronic from $95.00 to $98.00 and gave the company a "buy" rating in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $94.91.

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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