Medtronic plc (NYSE:MDT) Shares Bought by Forvis Mazars Wealth Advisors LLC

Forvis Mazars Wealth Advisors LLC raised its holdings in Medtronic plc (NYSE:MDT) by 24.2% during the fourth quarter, HoldingsChannel reports. The firm owned 3,207 shares of the medical technology company’s stock after buying an additional 624 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Medtronic were worth $256,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Copley Financial Group Inc. acquired a new position in Medtronic in the third quarter valued at $694,000. Olstein Capital Management L.P. increased its stake in shares of Medtronic by 19.2% during the third quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock worth $7,833,000 after acquiring an additional 14,000 shares during the period. Franklin Street Advisors Inc. NC increased its stake in shares of Medtronic by 32.6% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock worth $5,873,000 after acquiring an additional 18,057 shares during the period. Y Intercept Hong Kong Ltd increased its stake in shares of Medtronic by 322.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock worth $6,626,000 after acquiring an additional 56,178 shares during the period. Finally, Czech National Bank increased its stake in shares of Medtronic by 6.4% during the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock worth $22,212,000 after acquiring an additional 16,786 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Up 0.4 %

Shares of NYSE MDT opened at $90.27 on Tuesday. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $93.08. The company has a market capitalization of $115.76 billion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84. 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 firm’s 50-day moving average is $86.26 and its two-hundred day moving average is $87.24.

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

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MDT shares. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. JPMorgan Chase & Co. dropped their price target 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. Barclays boosted their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Truist Financial dropped their price target 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. Finally, Wells Fargo & Company lowered their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and a consensus target price of $95.00.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Medtronic 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.