HighPoint Advisor Group LLC Buys 983 Shares of Medtronic plc (NYSE:MDT)

HighPoint Advisor Group LLC boosted its stake in shares of Medtronic plc (NYSE:MDT) by 3.9% during the fourth quarter, Holdings Channel reports. The firm owned 25,984 shares of the medical technology company’s stock after purchasing an additional 983 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Medtronic were worth $2,076,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mainstream Capital Management LLC bought a new position in shares of Medtronic during the 4th quarter valued at $26,000. Stephens Consulting LLC boosted its position in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 204 shares during the last quarter. Rakuten Securities Inc. grew its stake in shares of Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 294 shares during the period. Fiduciary Advisors Inc. purchased a new stake in shares of Medtronic during the 4th quarter valued at about $36,000. Finally, Kieckhefer Group LLC bought a new position in shares of Medtronic in the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of NYSE MDT opened at $89.92 on Tuesday. The company has a market cap of $115.33 billion, a P/E ratio of 27.33, a P/E/G 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 company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The firm’s fifty day moving average is $91.02 and its two-hundred day moving average is $87.99.

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, topping the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. As a group, analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.70 per share. 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 3.11%. Medtronic’s dividend payout ratio is currently 85.11%.

Wall Street Analysts Forecast Growth

MDT has been the topic of several recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Robert W. Baird lifted their target price on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. Truist Financial lowered their price target 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. Finally, Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. One research 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. Based on data from MarketBeat.com, Medtronic has a consensus rating of “Hold” and an average price target of $96.07.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction 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 $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 Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by insiders.

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.