By otakuyassine3@gmail.com 
Mirae Asset Global Investments Co. Ltd. increased its stake in Medtronic plc (NYSE:MDT – Free Report) by 65.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,049 shares of the medical technology company’s stock after acquiring an additional 55,552 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Medtronic were worth $11,273,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in MDT. Fortitude Family Office LLC bought a new position in shares of Medtronic during the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Medtronic in the third quarter valued at $27,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic in the 3rd quarter worth about $27,000. Stephens Consulting LLC boosted its stake in shares of Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 204 shares during the period. Finally, J. Stern & Co. LLP bought a new position in Medtronic during the 3rd quarter valued at about $30,000. 82.06% of the stock is owned by institutional investors.
Insider Activity at Medtronic
In other news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the sale, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by insiders.
Medtronic Trading Down 0.9 %
NYSE MDT opened at $90.85 on Friday. The firm has a market cap of $116.50 billion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $93.08. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average price of $84.69 and a 200 day moving average price of $86.28.
Medtronic (NYSE:MDT – Get Free Report) last issued its quarterly earnings data 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. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the prior year, the business posted $1.25 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Medtronic plc will post 5.45 EPS for the current fiscal year.
Medtronic Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.
Wall Street Analyst Weigh In
Several analysts have issued reports on the stock. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. JPMorgan Chase & Co. reduced their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Sanford C. Bernstein boosted their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Barclays raised their price objective on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Truist Financial lowered their target price 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, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Medtronic currently has an average rating of “Hold” and an average target price of $95.00.
About Medtronic
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.
See Also
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