Medtronic plc (NYSE:MDT) Shares Purchased by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC raised its position in Medtronic plc (NYSE:MDT) by 5.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 24,256 shares of the medical technology company’s stock after acquiring an additional 1,181 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Medtronic were worth $1,938,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Scientech Research LLC acquired a new stake in Medtronic in the second quarter valued at about $522,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Medtronic in the second quarter valued at approximately $4,745,000. Creative Planning grew its holdings in Medtronic by 6.6% during the second quarter. Creative Planning now owns 247,061 shares of the medical technology company’s stock worth $19,446,000 after acquiring an additional 15,305 shares during the period. NewEdge Advisors LLC raised its position in Medtronic by 7.1% in the second quarter. NewEdge Advisors LLC now owns 122,880 shares of the medical technology company’s stock worth $9,672,000 after acquiring an additional 8,127 shares in the last quarter. Finally, Wellington Wealth Strategies LLC. acquired a new stake in Medtronic in the second quarter valued at $257,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Medtronic stock opened at $92.67 on Tuesday. The company has a market cap of $118.83 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 2.49 and a beta of 0.83. The firm has a 50 day moving average price of $83.75 and a 200 day moving average price of $85.62. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $92.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating 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 firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.25 earnings per share. Sell-side analysts predict that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.02%. Medtronic’s dividend payout ratio (DPR) is 85.63%.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the firm’s 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 transaction, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Truist Financial cut their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Barclays increased their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. reduced their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Finally, Robert W. Baird dropped their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $95.00.

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.