OV Management LLC Increases Stock Holdings in Medtronic plc (NYSE:MDT)

OV Management LLC boosted its stake in shares of Medtronic plc (NYSE:MDT) by 8.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 21,754 shares of the medical technology company’s stock after buying an additional 1,697 shares during the period. OV Management LLC’s holdings in Medtronic were worth $1,738,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. FMR LLC grew its holdings in Medtronic by 21.0% during the 3rd quarter. FMR LLC now owns 1,839,569 shares of the medical technology company’s stock valued at $165,616,000 after purchasing an additional 319,256 shares during the last quarter. PDT Partners LLC purchased a new position in shares of Medtronic during the third quarter valued at approximately $522,000. Edgestream Partners L.P. grew its stake in shares of Medtronic by 682.9% during the third quarter. Edgestream Partners L.P. now owns 23,737 shares of the medical technology company’s stock valued at $2,137,000 after buying an additional 20,705 shares during the last quarter. True Wealth Design LLC raised its holdings in shares of Medtronic by 1,793.3% in the third quarter. True Wealth Design LLC now owns 568 shares of the medical technology company’s stock worth $51,000 after buying an additional 538 shares during the period. Finally, FSA Wealth Management LLC bought a new stake in shares of Medtronic during the 3rd quarter worth approximately $72,000. 82.06% of the stock is currently owned by institutional investors.

Insider Transactions at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Medtronic Price Performance

Shares of MDT stock opened at $89.92 on Tuesday. The stock’s 50-day moving average is $91.02 and its 200 day moving average is $87.99. 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 company has a market cap of $115.33 billion, a P/E ratio of 27.33, a PEG ratio of 2.22 and a beta of 0.80.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Research analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. Medtronic’s dividend payout ratio is presently 85.11%.

Analyst Upgrades and Downgrades

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

Medtronic Company 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.