FSB Premier Wealth Management Inc. Acquires 2,007 Shares of Medtronic plc (NYSE:MDT)

FSB Premier Wealth Management Inc. raised its stake in shares of Medtronic plc (NYSE:MDT) by 15.6% during the fourth quarter, Holdings Channel reports. The firm owned 14,857 shares of the medical technology company’s stock after buying an additional 2,007 shares during the quarter. FSB Premier Wealth Management Inc.’s holdings in Medtronic were worth $1,187,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC grew its stake in Medtronic by 21.0% in the third quarter. FMR LLC now owns 1,839,569 shares of the medical technology company’s stock worth $165,616,000 after purchasing an additional 319,256 shares during the period. Fred Alger Management LLC boosted its stake in Medtronic by 6.9% during the third quarter. Fred Alger Management LLC now owns 36,801 shares of the medical technology company’s stock worth $3,313,000 after acquiring an additional 2,390 shares in the last quarter. PDT Partners LLC bought a new position in shares of Medtronic during the third quarter valued at approximately $522,000. Edgestream Partners L.P. increased its position in Medtronic by 682.9% during the 3rd quarter. Edgestream Partners L.P. now owns 23,737 shares of the medical technology company’s stock valued at $2,137,000 after buying an additional 20,705 shares in the last quarter. Finally, Bellevue Group AG boosted its holdings in Medtronic by 0.7% in the third quarter. Bellevue Group AG now owns 1,008,633 shares of the medical technology company’s stock worth $90,807,000 after acquiring an additional 6,886 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity 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 completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Medtronic Stock Down 1.5 %

MDT opened at $87.62 on Monday. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. 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 stock has a market cap of $112.38 billion, a price-to-earnings ratio of 26.63, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The firm’s fifty day moving average is $90.98 and its 200 day moving average is $87.99.

Medtronic (NYSE:MDT) last released its quarterly earnings data 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. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. On average, sell-side analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors 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 dividend on an annualized basis and a dividend yield of 3.20%. Medtronic’s dividend payout ratio is 85.11%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MDT. Robert W. Baird upped their price target 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 reaffirmed a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and increased their price objective for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Truist Financial lowered their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Finally, UBS Group lifted their price target on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.