RBA Wealth Management LLC Buys 1,045 Shares of Medtronic plc (NYSE:MDT)

RBA Wealth Management LLC raised its holdings in shares of Medtronic plc (NYSE:MDT) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 50,540 shares of the medical technology company’s stock after acquiring an additional 1,045 shares during the period. RBA Wealth Management LLC’s holdings in Medtronic were worth $4,037,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MDT. Czech National Bank raised its position in shares of Medtronic by 3.3% during the 3rd quarter. Czech National Bank now owns 261,279 shares of the medical technology company’s stock valued at $23,523,000 after purchasing an additional 8,249 shares during the period. Park Avenue Securities LLC raised its holdings in shares of Medtronic by 3.3% in the 3rd quarter. Park Avenue Securities LLC now owns 24,993 shares of the medical technology company’s stock valued at $2,250,000 after purchasing an additional 809 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Medtronic by 33.8% in the 3rd quarter. GAMMA Investing LLC now owns 13,024 shares of the medical technology company’s stock valued at $1,173,000 after purchasing an additional 3,289 shares in the last quarter. Azzad Asset Management Inc. ADV raised its stake in shares of Medtronic by 1.0% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 60,356 shares of the medical technology company’s stock worth $5,434,000 after acquiring an additional 574 shares in the last quarter. Finally, IAM Advisory LLC purchased a new stake in Medtronic during the 3rd quarter worth approximately $210,000. 82.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the transaction, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Medtronic Stock Down 0.3 %

NYSE:MDT opened at $90.55 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The company has a market cap of $116.11 billion, a PE ratio of 27.69, a PEG ratio of 2.57 and a beta of 0.84. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $93.08. The stock has a 50-day simple moving average of $84.38 and a 200 day simple moving average of $86.09.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period last year, the firm posted $1.25 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts expect that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is currently 85.63%.

Analyst Ratings Changes

A number of analysts recently issued reports on MDT shares. Sanford C. Bernstein increased their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Robert W. Baird cut their price objective 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 lowered their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Wells Fargo & Company decreased 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. Finally, Barclays boosted 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. One equities 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.