Meeder Advisory Services Inc. Buys 479 Shares of Medtronic plc (NYSE:MDT)

Meeder Advisory Services Inc. raised its position in Medtronic plc (NYSE:MDT) by 2.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 18,604 shares of the medical technology company’s stock after purchasing an additional 479 shares during the period. Meeder Advisory Services Inc.’s holdings in Medtronic were worth $1,486,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Medtronic in the fourth quarter valued at $1,163,580,000. Raymond James Financial Inc. acquired a new position in shares of Medtronic in the 4th quarter valued at about $852,732,000. Beutel Goodman & Co Ltd. bought a new stake in shares of Medtronic during the 4th quarter valued at about $377,169,000. Van ECK Associates Corp grew its stake in Medtronic by 2,043.4% during the fourth quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company’s stock worth $207,540,000 after purchasing an additional 2,476,935 shares during the period. Finally, Boston Partners increased its holdings in Medtronic by 117.4% in the fourth quarter. Boston Partners now owns 3,102,605 shares of the medical technology company’s stock worth $248,311,000 after purchasing an additional 1,675,588 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Performance

NYSE MDT opened at $88.97 on Thursday. 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 has a fifty day moving average price of $91.04 and a 200-day moving average price of $87.99. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The firm has a market cap of $114.11 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 2.22 and a beta of 0.80.

Medtronic (NYSE:MDT) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $8.33 billion. As a group, equities research analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s payout ratio is 85.11%.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of research firms have issued reports on MDT. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. 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 Medtronic from a “neutral” rating to a “buy” rating and boosted their target price for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Robert W. Baird increased their price target on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Finally, Truist Financial decreased their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Medtronic has an average rating of “Hold” and an average 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.