Andra AP fonden Has $3.26 Million Stock Position in Medtronic plc (NYSE:MDT)

Andra AP fonden trimmed its holdings in Medtronic plc (NYSE:MDTFree Report) by 8.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,629 shares of the medical technology company’s stock after selling 3,600 shares during the quarter. Andra AP fonden’s holdings in Medtronic were worth $3,262,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund increased its position in Medtronic by 307.2% in the second quarter. Illinois Municipal Retirement Fund now owns 119,389 shares of the medical technology company’s stock worth $10,518,000 after purchasing an additional 90,068 shares during the period. Perceptive Advisors LLC acquired a new stake in Medtronic in the second quarter worth about $41,143,000. Wealth Management Solutions LLC increased its position in Medtronic by 22.6% in the second quarter. Wealth Management Solutions LLC now owns 5,162 shares of the medical technology company’s stock worth $455,000 after purchasing an additional 952 shares during the period. Ropes Wealth Advisors LLC increased its position in Medtronic by 21.4% in the third quarter. Ropes Wealth Advisors LLC now owns 7,205 shares of the medical technology company’s stock worth $565,000 after purchasing an additional 1,269 shares during the period. Finally, Wallace Advisory Group LLC increased its position in Medtronic by 19.3% in the third quarter. Wallace Advisory Group LLC now owns 4,889 shares of the medical technology company’s stock worth $383,000 after purchasing an additional 792 shares during the period. 80.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 4,997 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $82.17, for a total value of $410,603.49. Following the sale, the executive vice president now owns 28,910 shares in the company, valued at approximately $2,375,534.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Morgan Stanley lowered their price objective on Medtronic from $104.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 22nd. Royal Bank of Canada boosted their target price on Medtronic from $82.00 to $92.00 and gave the stock a “sector perform” rating in a research report on Friday, January 12th. Finally, Truist Financial boosted their target price on Medtronic from $84.00 to $87.00 and gave the stock a “hold” rating in a research report on Friday, December 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $93.92.

Check Out Our Latest Report on MDT

Medtronic Price Performance

Shares of MDT opened at $84.99 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.69 and a current ratio of 2.29. The stock has a 50 day simple moving average of $84.21 and a 200 day simple moving average of $80.45. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $92.02. The firm has a market capitalization of $113.01 billion, a PE ratio of 27.68, a P/E/G ratio of 2.97 and a beta of 0.78.

Medtronic (NYSE:MDTGet Free Report) last issued its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.07. The business had revenue of $7.98 billion during the quarter, compared to analyst estimates of $7.93 billion. Medtronic had a return on equity of 13.73% and a net margin of 12.83%. Medtronic’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.30 EPS. Sell-side analysts predict that Medtronic plc will post 5.16 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Wednesday, December 20th were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 3.25%. The ex-dividend date was Tuesday, December 19th. Medtronic’s payout ratio is 89.90%.

Medtronic Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.