Medtronic plc (NYSE:MDT) Shares Acquired by Tealwood Asset Management Inc.

Tealwood Asset Management Inc. increased its holdings in shares of Medtronic plc (NYSE:MDT) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,588 shares of the medical technology company’s stock after purchasing an additional 308 shares during the quarter. Tealwood Asset Management Inc.’s holdings in Medtronic were worth $1,724,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Federated Hermes Inc. boosted its stake in Medtronic by 5.7% in the second quarter. Federated Hermes Inc. now owns 195,324 shares of the medical technology company’s stock valued at $15,374,000 after acquiring an additional 10,586 shares in the last quarter. Thoroughbred Financial Services LLC boosted its position in shares of Medtronic by 15.4% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 5,357 shares of the medical technology company’s stock valued at $421,000 after purchasing an additional 714 shares during the period. Bcwm LLC grew its stake in Medtronic by 3.3% during the 2nd quarter. Bcwm LLC now owns 113,667 shares of the medical technology company’s stock worth $8,947,000 after buying an additional 3,601 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Medtronic by 7.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock valued at $560,494,000 after buying an additional 515,751 shares during the last quarter. Finally, One Capital Management LLC acquired a new stake in shares of Medtronic in the second quarter valued at approximately $245,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction that occurred on Wednesday, January 8th. The shares were 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 in the company, valued at $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Medtronic Trading Up 1.3 %

Shares of MDT stock opened at $81.68 on Tuesday. The stock has a fifty day moving average of $83.83 and a two-hundred day moving average of $84.96. The firm has a market capitalization of $104.74 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83. 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 plc has a 1 year low of $75.96 and a 1 year high of $92.68.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. Medtronic’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 earnings per share. As a group, research analysts expect that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.43%. Medtronic’s payout ratio is currently 85.63%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Evercore ISI lifted their target price on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Truist Financial decreased their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $95.00.

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.