4,196 Shares in Medtronic plc (NYSE:MDT) Bought by AGF Management Ltd.

AGF Management Ltd. acquired a new position in shares of Medtronic plc (NYSE:MDT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,196 shares of the medical technology company’s stock, valued at approximately $335,000.

Other institutional investors have also made changes to their positions in the company. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic during the third quarter worth $27,000. Mainstream Capital Management LLC acquired a new position in Medtronic in the fourth quarter valued at about $26,000. J. Stern & Co. LLP acquired a new position in Medtronic in the third quarter valued at about $30,000. 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 valued at $27,000 after acquiring an additional 204 shares during the period. Finally, Fiduciary Advisors Inc. acquired a new position in Medtronic in the fourth quarter valued at about $36,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Performance

MDT opened at $93.18 on Friday. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25. The firm has a market capitalization of $119.51 billion, a PE ratio of 28.32, a PEG ratio of 2.22 and a beta of 0.80. 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 business’s 50-day simple moving average is $89.61 and its 200 day simple moving average is $87.96.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. As a group, sell-side analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid 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 3.00%. Medtronic’s dividend payout ratio is 85.11%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MDT. UBS Group boosted their target price on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Wells Fargo & Company decreased their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. 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 note on Wednesday, December 18th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $96.07.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value 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 represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

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.