Medtronic plc (NYSE:MDT) Shares Acquired by AMI Investment Management Inc.

AMI Investment Management Inc. lifted its position in shares of Medtronic plc (NYSE:MDT) by 13.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 33,448 shares of the medical technology company’s stock after acquiring an additional 3,951 shares during the period. AMI Investment Management Inc.’s holdings in Medtronic were worth $2,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hartford Financial Management Inc. increased its holdings in Medtronic by 425.0% in the 3rd quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company’s stock worth $25,000 after acquiring an additional 255 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in Medtronic in the 4th quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. increased its holdings in Medtronic by 293.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 316,643 shares of the medical technology company’s stock worth $26,000 after acquiring an additional 236,064 shares in the last quarter. Financial Gravity Asset Management Inc. increased its holdings in Medtronic by 317.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock worth $29,000 after acquiring an additional 279 shares in the last quarter. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of Medtronic during the third quarter worth $31,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In related news, EVP Sean Salmon sold 30,695 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the completion of the sale, the executive vice president now directly owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MDT shares. Truist Financial upped their target price on shares of Medtronic from $87.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. Mizuho boosted their price target on shares of Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Oppenheimer boosted their price target on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.91.

Medtronic Stock Up 0.2 %

MDT stock opened at $87.13 on Friday. The company’s 50 day moving average price is $85.23 and its 200 day moving average price is $80.73. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30. Medtronic plc has a fifty-two week low of $68.84 and a fifty-two week high of $92.02. The firm has a market capitalization of $115.69 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 2.97 and a beta of 0.76.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. The firm had revenue of $8.09 billion for the quarter, compared to analyst estimates of $7.95 billion. During the same period in the prior year, the firm earned $1.30 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 22nd will be paid a $0.69 dividend. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $2.76 annualized dividend and a yield of 3.17%. Medtronic’s dividend payout ratio is currently 87.90%.

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.