Clarkston Capital Partners LLC Buys 1,620 Shares of Medtronic plc (NYSE:MDT)

Clarkston Capital Partners LLC lifted its stake in shares of Medtronic plc (NYSE:MDT) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 272,778 shares of the medical technology company’s stock after buying an additional 1,620 shares during the period. Clarkston Capital Partners LLC’s holdings in Medtronic were worth $21,789,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Mainstream Capital Management LLC bought a new position in Medtronic in the fourth quarter valued at about $26,000. Rakuten Securities Inc. raised its holdings in Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after buying an additional 294 shares during the last quarter. Stephens Consulting LLC boosted its position in 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 buying an additional 204 shares during the period. Fiduciary Advisors Inc. bought a new stake in Medtronic during the 4th quarter worth approximately $36,000. Finally, Chelsea Counsel Co. acquired a new position in Medtronic in the 3rd quarter valued at approximately $45,000. 82.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MDT has been the topic of several analyst reports. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Robert W. Baird raised their price objective on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Truist Financial reduced their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Finally, UBS Group raised their price target on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Medtronic has a consensus rating of “Hold” and a consensus price target of $96.07.

Insider Buying and Selling at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated 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 owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.20% of the company’s stock.

Medtronic Price Performance

MDT stock opened at $82.86 on Friday. 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’s 50-day moving average is $90.87 and its 200-day moving average is $87.93. The stock has a market capitalization of $106.28 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25.

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

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.38%. Medtronic’s payout ratio is 85.11%.

Medtronic 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.