Medtronic plc (NYSE:MDT) Shares Acquired by Jmac Enterprises LLC

Jmac Enterprises LLC increased its holdings in shares of Medtronic plc (NYSE:MDT) by 5.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,107 shares of the medical technology company’s stock after purchasing an additional 600 shares during the period. Jmac Enterprises LLC’s holdings in Medtronic were worth $887,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MDT. State Street Corp boosted its stake in shares of Medtronic by 0.9% during the third quarter. State Street Corp now owns 60,731,367 shares of the medical technology company’s stock worth $5,509,155,000 after buying an additional 520,027 shares during the period. Pzena Investment Management LLC raised its stake in Medtronic by 3.3% during the 3rd quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock valued at $772,727,000 after acquiring an additional 275,870 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Medtronic by 436.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock worth $661,125,000 after acquiring an additional 5,975,110 shares during the period. Raymond James & Associates grew its stake in shares of Medtronic by 2.3% in the 3rd quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock valued at $575,460,000 after purchasing an additional 145,504 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Medtronic by 11.5% in the third quarter. Fisher Asset Management LLC now owns 5,893,720 shares of the medical technology company’s stock valued at $530,612,000 after purchasing an additional 609,391 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the subject of several recent research reports. Robert W. Baird decreased their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Truist Financial reduced their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Wells Fargo & Company dropped their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Finally, Sanford C. Bernstein lifted their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Medtronic currently has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Stock Up 0.4 %

MDT opened at $91.18 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The company has a market cap of $116.92 billion, a price-to-earnings ratio of 27.88, a PEG ratio of 2.57 and a beta of 0.84. Medtronic plc has a one year low of $75.96 and a one year high of $93.08. The business’s fifty day moving average is $84.93 and its two-hundred day moving average is $86.56.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.25 EPS. Analysts anticipate that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.07%. Medtronic’s dividend payout ratio (DPR) is 85.63%.

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.