TCTC Holdings LLC Has $3.17 Million Holdings in Medtronic plc (NYSE:MDT)

TCTC Holdings LLC increased its stake in Medtronic plc (NYSE:MDT) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,718 shares of the medical technology company’s stock after purchasing an additional 1,301 shares during the period. TCTC Holdings LLC’s holdings in Medtronic were worth $3,173,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Mainstream Capital Management LLC acquired a new position in shares of Medtronic during the 4th quarter worth about $26,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic in the 3rd quarter valued at about $27,000. Stephens Consulting LLC raised its holdings in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 204 shares during the period. 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 acquiring an additional 294 shares during the period. Finally, J. Stern & Co. LLP bought a new position in Medtronic in the 3rd quarter valued at about $30,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Up 0.9 %

MDT opened at $93.18 on Monday. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The company has a market cap of $119.51 billion, a P/E ratio of 28.32, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The company has a fifty day moving average price of $89.61 and a two-hundred day moving average price of $87.95.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The firm had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

Analyst Ratings Changes

Several brokerages have recently commented on MDT. Wells Fargo & Company lowered their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a 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 report on Wednesday, December 18th. Robert W. Baird raised their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. UBS Group lifted 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. Finally, Sanford C. Bernstein lifted their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and a consensus price target of $96.07.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business’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 transaction, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

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.