3,422 Shares in Medtronic plc (NYSE:MDT) Bought by Impact Capital Partners LLC

Impact Capital Partners LLC acquired a new position in shares of Medtronic plc (NYSE:MDT) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,422 shares of the medical technology company’s stock, valued at approximately $273,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. DecisionMap Wealth Management LLC acquired a new stake in Medtronic in the fourth quarter valued at $474,000. PGGM Investments grew its holdings in Medtronic by 9.3% in the fourth quarter. PGGM Investments now owns 1,243,301 shares of the medical technology company’s stock valued at $99,315,000 after purchasing an additional 105,611 shares during the last quarter. Lazard Freres Gestion S.A.S. grew its holdings in Medtronic by 32.1% in the fourth quarter. Lazard Freres Gestion S.A.S. now owns 1,530,933 shares of the medical technology company’s stock valued at $122,290,000 after purchasing an additional 371,742 shares during the last quarter. Achmea Investment Management B.V. grew its holdings in Medtronic by 0.7% in the fourth quarter. Achmea Investment Management B.V. now owns 192,024 shares of the medical technology company’s stock valued at $15,339,000 after purchasing an additional 1,248 shares during the last quarter. Finally, Rakuten Securities Inc. boosted its stake in shares of Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 294 shares during the last quarter. 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 that occurred 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 in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Medtronic Stock Performance

Medtronic stock opened at $93.18 on Friday. The stock’s 50-day moving average is $89.61 and its 200-day moving average is $87.96. The company has a market cap of $119.51 billion, a price-to-earnings ratio of 28.32, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25.

Medtronic (NYSE:MDT) last released its quarterly earnings data 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 company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Equities analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.00%. Medtronic’s dividend payout ratio (DPR) is currently 85.11%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Robert W. Baird increased their price objective on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. Truist Financial decreased their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Sanford C. Bernstein increased their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $96.07.

Medtronic Profile

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.