Crux Wealth Advisors Acquires Shares of 12,836 Medtronic plc (NYSE:MDT)

Crux Wealth Advisors bought a new stake in shares of Medtronic plc (NYSE:MDT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 12,836 shares of the medical technology company’s stock, valued at approximately $1,025,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MDT. Mainstream Capital Management LLC purchased a new position in shares of Medtronic during the 4th quarter worth approximately $26,000. Stephens Consulting LLC grew its stake in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 204 shares during the period. Rakuten Securities Inc. lifted its position in Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after buying an additional 294 shares during the period. Fiduciary Advisors Inc. bought a new stake in shares of Medtronic during the 4th quarter valued at $36,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Medtronic during the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction that occurred on 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 owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Truist Financial lowered their price target on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a research report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Robert W. Baird boosted their price target on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and raised their price objective for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $96.14.

Medtronic Price Performance

Shares of NYSE:MDT opened at $82.69 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The firm has a market cap of $106.05 billion, a price-to-earnings ratio of 25.13, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. The business has a 50-day simple moving average of $89.71 and a two-hundred day simple moving average of $87.65. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating the consensus estimate 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%. On average, analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.39%. Medtronic’s payout ratio is 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.