Medtronic plc (NYSE:MDT) Shares Purchased by Tealwood Asset Management Inc.

Tealwood Asset Management Inc. boosted its holdings in shares of Medtronic plc (NYSE:MDT) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,588 shares of the medical technology company’s stock after buying an additional 308 shares during the period. Tealwood Asset Management Inc.’s holdings in Medtronic were worth $1,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its holdings in shares of Medtronic by 5.7% in the second quarter. Federated Hermes Inc. now owns 195,324 shares of the medical technology company’s stock worth $15,374,000 after buying an additional 10,586 shares during the last quarter. Thoroughbred Financial Services LLC raised its stake in Medtronic by 15.4% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 5,357 shares of the medical technology company’s stock worth $421,000 after acquiring an additional 714 shares during the last quarter. Bcwm LLC increased its holdings in shares of Medtronic by 3.3% in the second quarter. Bcwm LLC now owns 113,667 shares of the medical technology company’s stock valued at $8,947,000 after purchasing an additional 3,601 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Medtronic by 7.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock worth $560,494,000 after purchasing an additional 515,751 shares during the last quarter. Finally, One Capital Management LLC acquired a new stake in shares of Medtronic during the second quarter worth about $245,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. 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. JPMorgan Chase & Co. reduced their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Barclays upped their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Robert W. Baird reduced their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Finally, Evercore ISI upped their target price on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Medtronic presently has an average rating of “Hold” and a consensus target price of $95.00.

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 transaction of $792,038.50. Following the completion of the sale, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

Medtronic Stock Up 1.3 %

MDT stock opened at $81.68 on Tuesday. The company has a market cap of $104.74 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 2.33 and a beta of 0.83. The firm has a 50-day moving average of $83.83 and a two-hundred day moving average of $84.96. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 earnings per share. As a group, analysts forecast that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

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.