Medtronic plc (NYSE:MDT) Shares Acquired by Caprock Group LLC

Caprock Group LLC boosted its stake in shares of Medtronic plc (NYSE:MDT) by 12.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,767 shares of the medical technology company’s stock after purchasing an additional 5,363 shares during the quarter. Caprock Group LLC’s holdings in Medtronic were worth $3,849,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC acquired a new position in shares of Medtronic during the third quarter valued at $27,000. Highline Wealth Partners LLC bought a new stake in Medtronic in the 3rd quarter valued at about $27,000. Darwin Wealth Management LLC acquired a new position in Medtronic during the 3rd quarter valued at about $27,000. J. Stern & Co. LLP bought a new position in Medtronic in the 3rd quarter worth about $30,000. Finally, Fiduciary Advisors Inc. acquired a new stake in shares of Medtronic in the fourth quarter valued at approximately $36,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Price Performance

Shares of NYSE:MDT opened at $90.74 on Friday. The company has a market capitalization of $116.35 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 2.59 and a beta of 0.83. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The stock has a fifty day moving average of $84.29 and a 200-day moving average of $85.91. Medtronic plc has a one year low of $75.96 and a one year high of $93.08.

Medtronic (NYSE:MDT) last announced its 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 business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. Medtronic’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.25 earnings per share. As a group, equities analysts anticipate that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.09%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is currently 85.63%.

Insider Activity

In related news, EVP Brett A. Wall sold 12,437 shares of the company’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 transaction, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MDT. Truist Financial decreased their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Sanford C. Bernstein increased their price target on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. lowered their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Robert W. Baird reduced their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Finally, Barclays raised their target price on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $95.00.

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.