Level Four Advisory Services LLC Has $3.27 Million Holdings in Medtronic plc (NYSE:MDT)

Level Four Advisory Services LLC increased its stake in shares of Medtronic plc (NYSE:MDT) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 40,982 shares of the medical technology company’s stock after purchasing an additional 325 shares during the period. Level Four Advisory Services LLC’s holdings in Medtronic were worth $3,274,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Copley Financial Group Inc. acquired a new position in Medtronic during the third quarter valued at approximately $694,000. Franklin Street Advisors Inc. NC grew its stake in Medtronic by 32.6% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock valued at $5,873,000 after buying an additional 18,057 shares during the last quarter. Y Intercept Hong Kong Ltd raised its holdings in Medtronic by 322.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock worth $6,626,000 after acquiring an additional 56,178 shares during the period. Olstein Capital Management L.P. lifted its position in Medtronic by 8.0% during the 4th quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company’s stock worth $7,509,000 after acquiring an additional 7,000 shares during the last quarter. Finally, Czech National Bank boosted its holdings in Medtronic by 6.4% during the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock valued at $22,212,000 after acquiring an additional 16,786 shares during the period. 82.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MDT has been the subject of several research analyst reports. Truist Financial cut their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. UBS Group increased their price objective on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Robert W. Baird raised their price objective on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and raised their price target for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. One investment 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $96.07.

Medtronic Price Performance

Medtronic stock opened at $87.62 on Friday. The business has a 50 day simple moving average of $90.98 and a 200 day simple moving average of $88.03. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The company has a market capitalization of $112.38 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last issued its earnings results 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 company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. On average, sell-side analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The company 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 $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s dividend payout ratio (DPR) is currently 85.11%.

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.