Generali Asset Management SPA SGR Takes $3.11 Million Position in Medtronic plc (NYSE:MDT)

Generali Asset Management SPA SGR bought a new stake in Medtronic plc (NYSE:MDT) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 38,927 shares of the medical technology company’s stock, valued at approximately $3,109,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MDT. Caprock Group LLC lifted its position in Medtronic by 24.6% during the 3rd quarter. Caprock Group LLC now owns 42,404 shares of the medical technology company’s stock worth $3,847,000 after buying an additional 8,364 shares in the last quarter. OneAscent Financial Services LLC lifted its position in Medtronic by 15.4% during the 3rd quarter. OneAscent Financial Services LLC now owns 3,070 shares of the medical technology company’s stock worth $279,000 after buying an additional 410 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Medtronic by 9.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 574,483 shares of the medical technology company’s stock worth $51,721,000 after buying an additional 51,346 shares in the last quarter. West Family Investments Inc. acquired a new position in Medtronic during the 3rd quarter worth about $343,000. Finally, Prospera Private Wealth LLC acquired a new position in Medtronic during the 3rd quarter valued at about $7,874,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MDT has been the topic of a number of research reports. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Robert W. Baird upped their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Truist Financial lowered their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Wells Fargo & Company lowered their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Medtronic currently has an average rating of “Hold” and an average price target of $96.07.

Medtronic Price Performance

NYSE MDT opened at $91.78 on Thursday. The business has a 50 day simple moving average of $90.30 and a 200 day simple moving average of $88.04. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The stock has a market cap of $117.71 billion, a price-to-earnings ratio of 27.90, a PEG ratio of 2.22 and a beta of 0.80.

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

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Friday, March 28th. Medtronic’s payout ratio 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.