OV Management LLC Increases Position in Medtronic plc (NYSE:MDT)

OV Management LLC increased its position in Medtronic plc (NYSE:MDT) by 8.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,754 shares of the medical technology company’s stock after acquiring an additional 1,697 shares during the period. OV Management LLC’s holdings in Medtronic were worth $1,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. FMR LLC lifted its holdings in shares of Medtronic by 21.0% during the third quarter. FMR LLC now owns 1,839,569 shares of the medical technology company’s stock worth $165,616,000 after purchasing an additional 319,256 shares during the period. PDT Partners LLC acquired a new stake in shares of Medtronic in the third quarter worth $522,000. Edgestream Partners L.P. raised its holdings in shares of Medtronic by 682.9% during the third quarter. Edgestream Partners L.P. now owns 23,737 shares of the medical technology company’s stock worth $2,137,000 after purchasing an additional 20,705 shares during the last quarter. True Wealth Design LLC lifted its position in Medtronic by 1,793.3% during the third quarter. True Wealth Design LLC now owns 568 shares of the medical technology company’s stock valued at $51,000 after purchasing an additional 538 shares during the period. Finally, FSA Wealth Management LLC acquired a new position in Medtronic during the third quarter valued at $72,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the transaction, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Truist Financial reduced their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. UBS Group upped 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. Royal Bank of Canada restated an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. Finally, 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 research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $96.07.

Medtronic Stock Up 2.6 %

NYSE MDT opened at $89.92 on Tuesday. The business has a fifty day moving average price of $91.02 and a 200 day moving average price of $87.99. 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 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 one year low of $75.96 and a one year high of $96.25.

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

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Friday, March 28th. Medtronic’s dividend payout ratio (DPR) is 85.11%.

About Medtronic

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.