Global View Capital Management LLC Makes New Investment in Medtronic plc (NYSE:MDT)

Global View Capital Management LLC purchased a new position in shares of Medtronic plc (NYSE:MDT) in the 4th quarter, Holdings Channel.com reports. The fund purchased 6,566 shares of the medical technology company’s stock, valued at approximately $527,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. S&CO Inc. increased its stake in Medtronic by 1.3% during the fourth quarter. S&CO Inc. now owns 118,523 shares of the medical technology company’s stock worth $9,467,000 after acquiring an additional 1,548 shares during the last quarter. Dearborn Partners LLC increased its stake in Medtronic by 7.9% during the fourth quarter. Dearborn Partners LLC now owns 72,027 shares of the medical technology company’s stock worth $5,754,000 after acquiring an additional 5,252 shares during the last quarter. Riverbend Wealth Management LLC acquired a new stake in Medtronic during the fourth quarter worth about $237,000. Morton Community Bank increased its stake in Medtronic by 2.1% during the fourth quarter. Morton Community Bank now owns 35,734 shares of the medical technology company’s stock worth $2,854,000 after acquiring an additional 733 shares during the last quarter. Finally, Independent Advisor Alliance boosted its position in shares of Medtronic by 25.3% in the fourth quarter. Independent Advisor Alliance now owns 54,907 shares of the medical technology company’s stock worth $4,386,000 after buying an additional 11,075 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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 stock was 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 directly owns 40,979 shares in the company, valued at approximately $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 can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Medtronic Trading Down 0.8 %

Shares of NYSE MDT opened at $93.75 on Tuesday. The stock’s 50 day moving average price is $88.62 and its two-hundred day moving average price is $87.84. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25. The stock has a market capitalization of $120.24 billion, a P/E ratio of 28.50, a PEG ratio of 2.22 and a beta of 0.80. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

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

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s payout ratio is 85.11%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MDT shares. UBS Group upped their target price on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Truist Financial decreased their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Robert W. Baird upped their target price on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Barclays upped their target price on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $96.07.

Medtronic 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.