Pine Valley Investments Ltd Liability Co Purchases 184 Shares of Medtronic plc (NYSE:MDT)

Pine Valley Investments Ltd Liability Co grew its position in Medtronic plc (NYSE:MDT) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,774 shares of the medical technology company’s stock after acquiring an additional 184 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Medtronic were worth $784,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. State Street Corp raised its position in Medtronic by 0.9% in the 3rd quarter. State Street Corp now owns 60,731,367 shares of the medical technology company’s stock worth $5,509,155,000 after purchasing an additional 520,027 shares during the last quarter. Pzena Investment Management LLC raised its position in Medtronic by 3.3% in the 3rd quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock worth $772,727,000 after purchasing an additional 275,870 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Medtronic by 436.7% in 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 purchasing an additional 5,975,110 shares during the last quarter. Fisher Asset Management LLC raised its position in Medtronic by 11.5% in the 3rd quarter. Fisher Asset Management LLC now owns 5,893,720 shares of the medical technology company’s stock worth $530,612,000 after purchasing an additional 609,391 shares during the last quarter. Finally, Stifel Financial Corp raised its position in Medtronic by 2.9% in the 3rd quarter. Stifel Financial Corp now owns 5,842,020 shares of the medical technology company’s stock worth $525,960,000 after purchasing an additional 164,700 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

MDT has been the subject of several research analyst reports. Truist Financial dropped their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. JPMorgan Chase & Co. lowered their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Barclays lifted their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. UBS Group lifted their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Finally, Sanford C. Bernstein lifted their target price on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $95.00.

Medtronic Trading Up 0.4 %

Shares of NYSE:MDT opened at $90.57 on Wednesday. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $93.08. The company has a market capitalization of $116.13 billion, a P/E ratio of 27.53, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84. The company has a 50-day simple moving average of $86.44 and a 200 day simple moving average of $87.30. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Sell-side analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.09%. Medtronic’s dividend payout ratio is currently 85.11%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.20% 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.