Jupiter Asset Management Ltd. Raises Stock Holdings in Medtronic plc (NYSE:MDT)

Jupiter Asset Management Ltd. raised its position in shares of Medtronic plc (NYSE:MDT) by 2,255.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 870,956 shares of the medical technology company’s stock after buying an additional 833,975 shares during the period. Medtronic comprises about 0.7% of Jupiter Asset Management Ltd.’s investment portfolio, making the stock its 29th biggest holding. Jupiter Asset Management Ltd. owned approximately 0.07% of Medtronic worth $69,572,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MDT. Mainstream Capital Management LLC purchased a new stake in shares of Medtronic during the fourth quarter worth about $26,000. Darwin Wealth Management LLC purchased a new stake in Medtronic in the 3rd quarter worth approximately $27,000. Stephens Consulting LLC grew its position in shares of Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after buying an additional 204 shares during the last quarter. J. Stern & Co. LLP purchased a new position in shares of Medtronic during the third quarter valued at approximately $30,000. Finally, Fiduciary Advisors Inc. bought a new position in shares of Medtronic during the fourth quarter valued at approximately $36,000. Institutional investors own 82.06% of the company’s stock.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business’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 completion of the transaction, the executive vice president now owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MDT shares. JPMorgan Chase & Co. cut 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. Barclays lifted their target price 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. Sanford C. Bernstein boosted their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Robert W. Baird raised their price objective on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Finally, Truist Financial reduced their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $96.07.

Medtronic Price Performance

Shares of NYSE:MDT opened at $93.44 on Wednesday. The business has a fifty day moving average price of $88.89 and a 200-day moving average price of $87.88. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The company has a market capitalization of $119.85 billion, a PE ratio of 28.40, a PEG ratio of 2.22 and a beta of 0.80. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share 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 analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. As a group, equities analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a $0.70 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.00%. Medtronic’s dividend payout ratio (DPR) is presently 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.