3,869 Shares in Medtronic plc (NYSE:MDT) Bought by FLC Capital Advisors

FLC Capital Advisors bought a new position in Medtronic plc (NYSE:MDT) during the fourth quarter, HoldingsChannel reports. The fund bought 3,869 shares of the medical technology company’s stock, valued at approximately $319,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. BKM Wealth Management LLC bought a new position in Medtronic during the fourth quarter valued at $941,000. Perceptive Advisors LLC purchased a new position in shares of Medtronic in the 2nd quarter valued at $41,143,000. Tower Research Capital LLC TRC raised its stake in shares of Medtronic by 69.3% during 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 acquiring an additional 16,574 shares in the last quarter. Ropes Wealth Advisors LLC increased its position in Medtronic by 21.4% during the 3rd quarter. Ropes Wealth Advisors LLC now owns 7,205 shares of the medical technology company’s stock valued at $565,000 after buying an additional 1,269 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Medtronic by 109,325.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 91,917 shares of the medical technology company’s stock worth $7,572,000 after buying an additional 91,833 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 0.3 %

NYSE MDT traded up $0.23 during mid-day trading on Thursday, reaching $87.15. 7,229,640 shares of the company’s stock traded hands, compared to its average volume of 6,316,845. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $85.23 and a 200-day simple moving average of $80.73. The company has a market cap of $115.72 billion, a price-to-earnings ratio of 27.82, a P/E/G ratio of 2.86 and a beta of 0.76. Medtronic plc has a 1-year low of $68.84 and a 1-year high of $92.02.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.04. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The firm had revenue of $8.09 billion for the quarter, compared to analysts’ expectations of $7.95 billion. During the same quarter in the prior year, the firm posted $1.30 earnings per share. Medtronic’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities research analysts expect that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 22nd will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Thursday, March 21st. Medtronic’s dividend payout ratio is currently 87.90%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Mizuho raised their target price on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. 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. Truist Financial boosted their target price on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, February 21st. Finally, Oppenheimer boosted their price target on shares of Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 21st. One 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’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $94.91.

Insiders Place Their Bets

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 completion of the transaction, the executive vice president now owns 48,289 shares in the company, valued at approximately $4,110,842.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is currently owned by insiders.

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.