Medtronic plc (NYSE:MDT) Shares Purchased by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co grew its stake in shares of Medtronic plc (NYSE:MDT) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,394 shares of the medical technology company’s stock after acquiring an additional 1,000 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Medtronic were worth $7,940,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Fortitude Family Office LLC acquired a new position in Medtronic in the third quarter worth about $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic in the 3rd quarter valued at approximately $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic during the 3rd quarter valued at approximately $27,000. Stephens Consulting LLC boosted its holdings in shares of Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after buying an additional 204 shares during the period. Finally, J. Stern & Co. LLP bought a new stake in shares of Medtronic during the 3rd quarter valued at about $30,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

MDT opened at $89.95 on Monday. The business has a 50 day moving average price of $86.08 and a two-hundred day moving average price of $87.18. 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 capitalization of $115.34 billion, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $93.08.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating 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 business had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.33 billion. Research analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.11%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is presently 85.11%.

Wall Street Analysts Forecast Growth

MDT has been the subject of several recent research reports. Robert W. Baird upped their target price on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Royal Bank of Canada restated an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Truist Financial lowered their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Finally, Barclays lifted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $95.00.

Insider Activity at Medtronic

In other Medtronic 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 value of $1,119,330.00. Following the transaction, the executive vice president now owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This represents 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 this hyperlink. Company insiders own 0.20% of the company’s stock.

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.