Dnca Finance Acquires 43,391 Shares of Medtronic plc (NYSE:MDT)

Dnca Finance lifted its stake in shares of Medtronic plc (NYSE:MDT) by 44.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,750 shares of the medical technology company’s stock after acquiring an additional 43,391 shares during the quarter. Dnca Finance’s holdings in Medtronic were worth $11,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Morse Asset Management Inc bought a new position in shares of Medtronic during the 3rd quarter worth approximately $225,000. Te Ahumairangi Investment Management Ltd raised its holdings in shares of Medtronic by 4.1% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 52,321 shares of the medical technology company’s stock worth $4,684,000 after acquiring an additional 2,050 shares during the last quarter. Chelsea Counsel Co. bought a new position in shares of Medtronic in the third quarter valued at approximately $45,000. Tudor Financial Inc. purchased a new position in Medtronic during the 3rd quarter worth $586,000. Finally, Anchor Investment Management LLC boosted its holdings in Medtronic by 1.2% during the third quarter. Anchor Investment Management LLC now owns 107,518 shares of the medical technology company’s stock worth $9,680,000 after purchasing an additional 1,271 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

MDT opened at $82.58 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The stock’s 50 day moving average price is $88.91 and its 200-day moving average price is $87.42. The stock has a market capitalization of $105.91 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating 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 analysts’ expectations of $8.33 billion. On average, equities research analysts predict that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.39%. Medtronic’s payout ratio is presently 85.11%.

Insider Buying and Selling at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were 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 owns 40,979 shares of the company’s stock, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

MDT has been the subject of a number of recent analyst reports. Robert W. Baird upped 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 restated an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research report 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 note on Tuesday, March 4th. UBS Group lifted their price target on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, Truist Financial cut their target price on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, April 11th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Medtronic has a consensus rating of “Hold” and a consensus target price of $96.14.

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.