Medtronic plc (NYSE:MDT) Shares Acquired by Financiere des Professionnels Fonds d investissement inc.

Financiere des Professionnels Fonds d investissement inc. lifted its position in shares of Medtronic plc (NYSE:MDT) by 10.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,042 shares of the medical technology company’s stock after purchasing an additional 13,051 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.’s holdings in Medtronic were worth $11,107,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MDT. Fortitude Family Office LLC purchased a new position in shares of Medtronic during the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic during the 3rd quarter valued at approximately $27,000. Darwin Wealth Management LLC purchased a new position in shares of Medtronic during the 3rd quarter valued at approximately $27,000. Stephens Consulting LLC lifted its position in shares of Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after buying an additional 204 shares in the last quarter. Finally, J. Stern & Co. LLP purchased a new position in shares of Medtronic during the 3rd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 0.9 %

Shares of MDT opened at $93.02 on Monday. The stock has a fifty day simple moving average of $85.51 and a two-hundred day simple moving average of $86.86. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $119.28 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $93.08.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the company earned $1.25 EPS. As a group, equities analysts forecast that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.01%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 12th. Wells Fargo & Company decreased their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Truist Financial decreased their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Robert W. Baird decreased their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. decreased their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. 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 company’s stock. According to data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and an average price target of $95.00.

Insider Buying and Selling at Medtronic

In other 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 value of $1,119,330.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

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.