Investors Research Corp Has $1.03 Million Stock Position in Medtronic plc (NYSE:MDT)

Investors Research Corp decreased its position in Medtronic plc (NYSE:MDT) by 8.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,926 shares of the medical technology company’s stock after selling 1,118 shares during the quarter. Investors Research Corp’s holdings in Medtronic were worth $1,033,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Morton Community Bank raised its holdings in Medtronic by 2.1% in the 4th quarter. Morton Community Bank now owns 35,734 shares of the medical technology company’s stock valued at $2,854,000 after acquiring an additional 733 shares in the last quarter. Independent Advisor Alliance lifted its stake in Medtronic by 25.3% during the fourth quarter. Independent Advisor Alliance now owns 54,907 shares of the medical technology company’s stock worth $4,386,000 after purchasing an additional 11,075 shares during the last quarter. Paragon Private Wealth Management LLC boosted its holdings in shares of Medtronic by 5.8% in the 4th quarter. Paragon Private Wealth Management LLC now owns 9,967 shares of the medical technology company’s stock valued at $796,000 after purchasing an additional 544 shares in the last quarter. Meriwether Wealth & Planning LLC acquired a new position in shares of Medtronic during the 4th quarter worth $717,000. Finally, Daiwa Securities Group Inc. grew its position in Medtronic by 10.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 177,192 shares of the medical technology company’s stock valued at $14,154,000 after acquiring an additional 16,482 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

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 on 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 in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

MDT has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Truist Financial reduced their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. UBS Group increased their price target on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Robert W. Baird upped their target price on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $96.07.

Medtronic Price Performance

Medtronic stock opened at $94.58 on Monday. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $95.57. The company’s 50 day moving average price is $88.33 and its two-hundred day moving average price is $87.80. The stock has a market cap of $121.30 billion, a P/E ratio of 28.75, a P/E/G ratio of 2.22 and a beta of 0.80. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share 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 analysts’ expectations of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, equities analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.70 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 2.96%. Medtronic’s dividend payout ratio is currently 85.11%.

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.