Medtronic plc (NYSE:MDT) Shares Acquired by HBW Advisory Services LLC

HBW Advisory Services LLC lifted its stake in shares of Medtronic plc (NYSE:MDTFree Report) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,284 shares of the medical technology company’s stock after purchasing an additional 299 shares during the quarter. HBW Advisory Services LLC’s holdings in Medtronic were worth $2,739,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Copley Financial Group Inc. acquired a new stake in Medtronic in the 3rd quarter valued at about $694,000. Olstein Capital Management L.P. grew its stake in Medtronic by 19.2% in the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock valued at $7,833,000 after acquiring an additional 14,000 shares during the last quarter. Y Intercept Hong Kong Ltd grew its stake in Medtronic by 322.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock valued at $6,626,000 after acquiring an additional 56,178 shares during the last quarter. Ferguson Wellman Capital Management Inc. acquired a new stake in Medtronic in the 3rd quarter valued at about $9,486,000. Finally, Soltis Investment Advisors LLC grew its stake in Medtronic by 30.0% in the 3rd quarter. Soltis Investment Advisors LLC now owns 88,110 shares of the medical technology company’s stock valued at $7,933,000 after acquiring an additional 20,352 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Robert W. Baird reduced their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Truist Financial reduced their target price 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. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Finally, Barclays upped their target price on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Medtronic presently has an average rating of “Hold” and an average price target of $95.00.

View Our Latest Research Report on MDT

Medtronic Stock Down 2.1 %

Shares of Medtronic stock traded down $1.75 during trading on Friday, reaching $80.93. The company had a trading volume of 4,198,572 shares, compared to its average volume of 6,911,589. 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 fifty-two week low of $75.96 and a fifty-two week high of $92.68. The firm’s fifty day moving average is $84.17 and its 200-day moving average is $84.89. The company has a market cap of $103.78 billion, a price-to-earnings ratio of 24.75, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83.

Medtronic (NYSE:MDTGet Free Report) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter last year, the business posted $1.25 EPS. Medtronic’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, analysts anticipate that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Friday, December 27th. Medtronic’s dividend payout ratio is presently 85.63%.

Medtronic Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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