Medtronic plc (NYSE:MDT) Shares Bought by CWA Asset Management Group LLC

CWA Asset Management Group LLC grew its position in shares of Medtronic plc (NYSE:MDT) by 24.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,752 shares of the medical technology company’s stock after purchasing an additional 1,113 shares during the quarter. CWA Asset Management Group LLC’s holdings in Medtronic were worth $459,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Nordea Investment Management AB increased its holdings in Medtronic by 1.0% in the fourth quarter. Nordea Investment Management AB now owns 2,819,486 shares of the medical technology company’s stock valued at $225,023,000 after buying an additional 27,695 shares in the last quarter. Modus Advisors LLC purchased a new position in shares of Medtronic in the 4th quarter valued at about $55,000. Versant Capital Management Inc raised its holdings in Medtronic by 15.4% in the 4th quarter. Versant Capital Management Inc now owns 1,788 shares of the medical technology company’s stock worth $143,000 after purchasing an additional 238 shares during the period. Syntax Research Inc. boosted its position in Medtronic by 593.6% during the third quarter. Syntax Research Inc. now owns 6,319 shares of the medical technology company’s stock worth $569,000 after purchasing an additional 5,408 shares in the last quarter. Finally, Brass Tax Wealth Management Inc. acquired a new stake in Medtronic in the third quarter valued at approximately $227,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Price Performance

Shares of MDT stock opened at $82.73 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The company has a market capitalization of $106.08 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83. The firm’s 50-day moving average is $84.30 and its two-hundred day moving average is $84.90. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter last year, the firm earned $1.25 EPS. The business’s revenue was up 5.2% compared to the same quarter last year. Analysts predict that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MDT shares. Truist Financial reduced their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Barclays lifted their target price on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. decreased their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Finally, Evercore ISI lifted their price objective on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Medtronic has a consensus rating of “Hold” and an average target price of $95.00.

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.