Worth Financial Advisory Group LLC Invests $273,000 in Medtronic plc (NYSE:MDT)

Worth Financial Advisory Group LLC bought a new stake in shares of Medtronic plc (NYSE:MDT) during the 4th quarter, HoldingsChannel reports. The firm bought 3,200 shares of the medical technology company’s stock, valued at approximately $273,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Penobscot Investment Management Company Inc. acquired a new position in shares of Medtronic during the fourth quarter worth $279,000. Morey & Quinn Wealth Partners LLC acquired a new position in Medtronic in the 4th quarter worth $229,000. Ipsen Advisor Group LLC purchased a new position in Medtronic in the 4th quarter valued at about $459,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Medtronic during the fourth quarter valued at about $65,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Medtronic by 2.0% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 647,334 shares of the medical technology company’s stock worth $51,709,000 after acquiring an additional 12,727 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on 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 directly owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by insiders.

Medtronic Trading Down 0.5 %

Shares of NYSE MDT opened at $88.17 on Thursday. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The company has a market cap of $113.08 billion, a price-to-earnings ratio of 26.80, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The stock’s 50 day simple moving average is $90.96 and its 200 day simple moving average is $88.04.

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

Medtronic Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MDT. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. UBS Group lifted their price target on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Truist Financial reduced their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $96.07.

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.