Argentarii LLC Invests $293,000 in Medtronic plc (NYSE:MDT)

Argentarii LLC bought a new position in shares of Medtronic plc (NYSE:MDT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,670 shares of the medical technology company’s stock, valued at approximately $293,000.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its position in shares of Medtronic by 0.9% during the 3rd quarter. State Street Corp now owns 60,731,367 shares of the medical technology company’s stock valued at $5,509,155,000 after buying an additional 520,027 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Medtronic during the 4th quarter valued at approximately $852,732,000. Pzena Investment Management LLC raised its position in shares of Medtronic by 3.3% during the 3rd quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock valued at $772,727,000 after buying an additional 275,870 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Medtronic by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,002,051 shares of the medical technology company’s stock valued at $639,204,000 after buying an additional 134,647 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Medtronic by 436.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock valued at $661,125,000 after buying an additional 5,975,110 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $94.58 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The firm has a fifty day moving average price of $88.33 and a 200 day moving average price of $87.80. The company has a market cap of $121.30 billion, a P/E ratio of 28.75, a PEG ratio of 2.22 and a beta of 0.80. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $95.57.

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

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid 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 2.96%. Medtronic’s payout ratio is currently 85.11%.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on MDT. Barclays boosted their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. UBS Group boosted their target price 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 boosted their target price on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. cut their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Finally, Truist Financial cut their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Medtronic has a consensus rating of “Hold” and a consensus price target of $96.07.

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.