Banco de Sabadell S.A Purchases 3,008 Shares of Medtronic plc (NYSE:MDT)

Banco de Sabadell S.A raised its holdings in shares of Medtronic plc (NYSE:MDT) by 13.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,581 shares of the medical technology company’s stock after acquiring an additional 3,008 shares during the period. Banco de Sabadell S.A’s holdings in Medtronic were worth $1,959,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Segall Bryant & Hamill LLC bought a new position in shares of Medtronic during the third quarter valued at about $2,641,000. Citizens Financial Group Inc. RI grew its position in Medtronic by 31.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 15,873 shares of the medical technology company’s stock worth $1,439,000 after acquiring an additional 3,805 shares during the last quarter. LPL Financial LLC increased its stake in Medtronic by 6.9% in the 3rd quarter. LPL Financial LLC now owns 1,092,135 shares of the medical technology company’s stock worth $98,325,000 after purchasing an additional 70,413 shares during the period. Pacer Advisors Inc. lifted its position in Medtronic by 14.6% in the third quarter. Pacer Advisors Inc. now owns 142,368 shares of the medical technology company’s stock valued at $12,817,000 after purchasing an additional 18,171 shares during the last quarter. Finally, Allen Capital Group LLC purchased a new stake in shares of Medtronic during the third quarter valued at approximately $259,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on MDT shares. Truist Financial lowered their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. UBS Group raised their target price on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and upped their price target for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Finally, Barclays lifted their price objective on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $96.07.

Medtronic Trading Down 0.9 %

Shares of NYSE MDT opened at $90.37 on Friday. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. 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 has a 50-day moving average of $90.67 and a 200 day moving average of $88.07. The stock has a market cap of $115.90 billion, a P/E ratio of 27.47, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS 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 for the quarter, compared to analysts’ expectations of $8.33 billion. As a group, sell-side analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Friday, March 28th. Medtronic’s dividend 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.