O Shaughnessy Asset Management LLC Purchases 213,970 Shares of Medtronic plc (NYSE:MDT)

O Shaughnessy Asset Management LLC raised its position in shares of Medtronic plc (NYSE:MDT) by 122.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 389,379 shares of the medical technology company’s stock after buying an additional 213,970 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Medtronic were worth $31,104,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Bcwm LLC bought a new position in shares of Medtronic during the 4th quarter worth approximately $8,520,000. Physician Wealth Advisors Inc. acquired a new position in shares of Medtronic during the fourth quarter valued at about $143,000. CIBC Private Wealth Group LLC raised its stake in Medtronic by 8.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 487,185 shares of the medical technology company’s stock worth $40,280,000 after buying an additional 38,348 shares during the period. California Public Employees Retirement System raised its position in shares of Medtronic by 5.4% during the fourth quarter. California Public Employees Retirement System now owns 2,698,268 shares of the medical technology company’s stock worth $215,538,000 after purchasing an additional 139,141 shares during the period. Finally, RWA Wealth Partners LLC lifted its holdings in shares of Medtronic by 13.3% in the 4th quarter. RWA Wealth Partners LLC now owns 11,530 shares of the medical technology company’s stock worth $921,000 after purchasing an additional 1,352 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Performance

NYSE:MDT opened at $87.62 on Friday. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The business has a fifty day simple moving average of $90.98 and a two-hundred day simple moving average of $88.01. The company has a market capitalization of $112.38 billion, a P/E ratio of 26.63, a P/E/G ratio of 2.22 and a beta of 0.80.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.20%. Medtronic’s dividend payout ratio is currently 85.11%.

Insider Transactions at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Truist Financial dropped their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a report on Wednesday, February 19th. UBS Group raised their target price on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and upped their target price for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $96.07.

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.