HighPoint Advisor Group LLC Buys 983 Shares of Medtronic plc (NYSE:MDT)

HighPoint Advisor Group LLC lifted its position in Medtronic plc (NYSE:MDT) by 3.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 25,984 shares of the medical technology company’s stock after purchasing an additional 983 shares during the period. HighPoint Advisor Group LLC’s holdings in Medtronic were worth $2,076,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MDT. Guardian Wealth Management Inc. grew its holdings in Medtronic by 0.9% in the 3rd quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock worth $1,182,000 after acquiring an additional 115 shares during the last quarter. MONECO Advisors LLC grew its stake in shares of Medtronic by 1.8% in the fourth quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company’s stock worth $512,000 after purchasing an additional 115 shares during the last quarter. OLD Second National Bank of Aurora grew its stake in shares of Medtronic by 0.3% in the fourth quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company’s stock worth $2,900,000 after purchasing an additional 121 shares during the last quarter. McKinley Carter Wealth Services Inc. raised its position in Medtronic by 0.7% during the 4th quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company’s stock valued at $1,572,000 after purchasing an additional 129 shares during the last quarter. Finally, Vestor Capital LLC lifted its holdings in Medtronic by 0.3% in the 4th quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company’s stock worth $4,104,000 after buying an additional 138 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Medtronic Stock Up 2.6 %

Shares of NYSE:MDT opened at $89.92 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $91.02 and a two-hundred day simple moving average of $87.99. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25. The stock has a market capitalization of $115.33 billion, a price-to-earnings ratio of 27.33, a PEG ratio of 2.22 and a beta of 0.80.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $8.33 billion. On average, research analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s payout ratio is 85.11%.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the 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 sale, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $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 accessible through this hyperlink. 0.20% of the stock is owned by insiders.

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.