Janney Capital Management LLC Purchases 18,476 Shares of Medtronic plc (NYSE:MDT)

Janney Capital Management LLC increased its position in Medtronic plc (NYSE:MDT - Free Report) by 9.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 205,991 shares of the medical technology company's stock after acquiring an additional 18,476 shares during the period. Medtronic comprises about 1.1% of Janney Capital Management LLC's investment portfolio, making the stock its 25th biggest holding. Janney Capital Management LLC's holdings in Medtronic were worth $16,970,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MDT. Loudon Investment Management LLC increased its holdings in Medtronic by 9.5% during the fourth quarter. Loudon Investment Management LLC now owns 10,026 shares of the medical technology company's stock valued at $786,000 after buying an additional 874 shares during the last quarter. BKM Wealth Management LLC purchased a new position in Medtronic during the fourth quarter valued at $941,000. International Assets Investment Management LLC grew its holdings in Medtronic by 8,340.3% during the fourth 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 period. Tower Research Capital LLC TRC increased its position in Medtronic by 69.3% in the third quarter. Tower Research Capital LLC TRC now owns 40,476 shares of the medical technology company's stock worth $3,172,000 after buying an additional 16,574 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its stake in shares of Medtronic by 43.0% in the fourth quarter. Apollon Wealth Management LLC now owns 50,804 shares of the medical technology company's stock worth $4,185,000 after buying an additional 15,265 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Price Performance

Shares of Medtronic stock traded up $0.42 during trading hours on Wednesday, reaching $84.72. The company's stock had a trading volume of 6,227,245 shares, compared to its average volume of 6,100,485. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. Medtronic plc has a one year low of $68.84 and a one year high of $91.00. The firm has a 50 day moving average price of $82.91 and a 200-day moving average price of $82.11. The stock has a market cap of $112.49 billion, a P/E ratio of 26.67, a P/E/G ratio of 2.72 and a beta of 0.78.

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

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 22nd were paid a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.26%. Medtronic's dividend payout ratio is 87.90%.

Analysts Set New Price Targets

A number of research firms have commented on MDT. Mizuho raised their target price on shares of Medtronic from $95.00 to $98.00 and gave the stock a "buy" rating in a research note on Wednesday, February 21st. Truist Financial increased their price target on Medtronic from $87.00 to $90.00 and gave the stock a "hold" rating in a research note on Wednesday, February 21st. Royal Bank of Canada restated a "sector perform" rating and issued a $92.00 price objective on shares of Medtronic in a research report on Wednesday, February 21st. Finally, Oppenheimer increased their target price on Medtronic from $89.00 to $92.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Medtronic presently has an average rating of "Hold" and an average price target of $94.91.

Insider Transactions at Medtronic

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the company's 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 transaction, the executive vice president now owns 27,925 shares of the company's stock, valued at approximately $2,321,684.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Sean Salmon sold 30,695 shares of the stock in a transaction that occurred 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 owns 48,289 shares of the company's stock, valued at $4,110,842.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the sale, the executive vice president now directly owns 27,925 shares of the company's stock, 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 Company 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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