Virtu Financial LLC Purchases Shares of 46,488 Medtronic plc (NYSE:MDT)

Virtu Financial LLC bought a new position in shares of Medtronic plc (NYSE:MDT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 46,488 shares of the medical technology company’s stock, valued at approximately $3,713,000.

Several other institutional investors and hedge funds have also bought and sold shares of MDT. State Street Corp lifted its holdings in shares of Medtronic by 0.9% during the third quarter. State Street Corp now owns 60,731,367 shares of the medical technology company’s stock valued at $5,509,155,000 after purchasing an additional 520,027 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Medtronic in the 4th quarter worth approximately $852,732,000. First Eagle Investment Management LLC grew its position in Medtronic by 0.3% in the 4th quarter. First Eagle Investment Management LLC now owns 9,792,200 shares of the medical technology company’s stock worth $782,201,000 after purchasing an additional 28,910 shares during the period. Charles Schwab Investment Management Inc. grew its position in Medtronic by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,002,051 shares of the medical technology company’s stock worth $639,204,000 after purchasing an additional 134,647 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Medtronic by 436.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock worth $661,125,000 after purchasing an additional 5,975,110 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction that occurred 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 $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

Medtronic Trading Down 0.9 %

Shares of MDT stock opened at $90.37 on Friday. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The firm’s 50-day simple moving average is $90.67 and its 200-day simple moving average is $88.08. 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 firm has a market cap of $115.90 billion, a P/E ratio of 27.47, a PEG ratio of 2.22 and a beta of 0.80.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. As a group, equities analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm 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 $0.70 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.10%. Medtronic’s payout ratio is 85.11%.

Analyst Ratings Changes

MDT has been the subject of a number of recent research reports. Robert W. Baird boosted their price objective 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. Truist Financial cut their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Finally, UBS Group boosted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $96.07.

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.