Medtronic plc (NYSE:MDT) Shares Purchased by Arlington Trust Co LLC

Arlington Trust Co LLC boosted its stake in shares of Medtronic plc (NYSE:MDT) by 92.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,657 shares of the medical technology company’s stock after buying an additional 794 shares during the period. Arlington Trust Co LLC’s holdings in Medtronic were worth $132,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Wedmont Private Capital boosted its holdings in Medtronic by 10.5% in the 3rd quarter. Wedmont Private Capital now owns 4,798 shares of the medical technology company’s stock valued at $418,000 after purchasing an additional 457 shares during the last quarter. Ritholtz Wealth Management grew its position in Medtronic by 39.8% in the third quarter. Ritholtz Wealth Management now owns 14,242 shares of the medical technology company’s stock worth $1,282,000 after acquiring an additional 4,051 shares during the period. Matrix Asset Advisors Inc. NY increased its stake in Medtronic by 11.1% during the third quarter. Matrix Asset Advisors Inc. NY now owns 308,366 shares of the medical technology company’s stock worth $27,762,000 after acquiring an additional 30,769 shares during the last quarter. Westend Capital Management LLC purchased a new stake in Medtronic in the third quarter valued at $5,304,000. Finally, Cardinal Capital Management Inc. lifted its stake in shares of Medtronic by 7.1% in the 3rd quarter. Cardinal Capital Management Inc. now owns 271,296 shares of the medical technology company’s stock valued at $24,425,000 after purchasing an additional 17,879 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Sanford C. Bernstein raised their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Truist Financial reduced their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Wells Fargo & Company lowered their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Robert W. Baird cut their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. lowered their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $95.00.

Medtronic Trading Down 0.9 %

Shares of NYSE:MDT opened at $90.01 on Monday. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $93.08. The company’s 50 day moving average is $84.85 and its two-hundred day moving average is $86.43. The company has a market cap of $115.42 billion, a PE ratio of 27.53, a P/E/G ratio of 2.57 and a beta of 0.84. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last posted its earnings results 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. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. Medtronic’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 earnings per share. Equities analysts predict that Medtronic plc will post 5.45 earnings per share 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 of this dividend was Friday, December 27th. Medtronic’s payout ratio is 85.63%.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

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.