Moment Partners LLC Takes $288,000 Position in Medtronic plc (NYSE:MDT)

Moment Partners LLC bought a new position in shares of Medtronic plc (NYSE:MDT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,602 shares of the medical technology company’s stock, valued at approximately $288,000.

A number of other institutional investors have also recently added to or reduced their stakes in MDT. Mainstream Capital Management LLC acquired a new position in shares of Medtronic during the fourth quarter worth $26,000. Stephens Consulting LLC lifted its holdings in Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after buying an additional 204 shares during the period. Rakuten Securities Inc. lifted its holdings in Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after buying an additional 294 shares during the period. Fiduciary Advisors Inc. acquired a new stake in shares of Medtronic in the fourth quarter valued at about $36,000. Finally, Kieckhefer Group LLC bought a new position in shares of Medtronic during the fourth quarter worth about $40,000. 82.06% of the stock is owned by institutional investors.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the sale, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.

Medtronic Trading Down 0.5 %

Shares of Medtronic stock opened at $88.17 on Thursday. The stock has a market capitalization of $113.08 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The stock has a 50 day moving average price of $90.96 and a two-hundred day moving average price of $88.04. 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 posted its quarterly 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. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. As a group, equities analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.18%. Medtronic’s dividend payout ratio is presently 85.11%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MDT shares. Robert W. Baird upped their target price on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. UBS Group increased their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Truist Financial dropped their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and increased their price target for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $96.07.

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.