LPL Financial LLC Purchases 48,749 Shares of Medtronic plc (NYSE:MDT)

LPL Financial LLC increased its position in Medtronic plc (NYSE:MDT) by 4.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,140,884 shares of the medical technology company’s stock after buying an additional 48,749 shares during the period. LPL Financial LLC owned about 0.09% of Medtronic worth $91,134,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Mainstream Capital Management LLC purchased a new stake in Medtronic in the 4th quarter worth $26,000. Stephens Consulting LLC increased its stake in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 204 shares during the last quarter. Rakuten Securities Inc. boosted its position in shares of Medtronic by 753.8% during the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 294 shares during the last quarter. J. Stern & Co. LLP bought a new stake in Medtronic in the third quarter worth $30,000. Finally, Fiduciary Advisors Inc. bought a new stake in Medtronic in the fourth quarter worth $36,000. 82.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on MDT shares. Truist Financial lowered their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Barclays increased their price target on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Finally, Robert W. Baird increased their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. One 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 stock. According to MarketBeat, Medtronic has a consensus rating of “Hold” and a consensus target price of $96.07.

Medtronic Price Performance

Shares of NYSE:MDT opened at $88.50 on Wednesday. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The company has a 50-day moving average price of $90.90 and a 200 day moving average price of $88.04. The company has a market cap of $113.51 billion, a P/E ratio of 26.90, a PEG ratio of 2.22 and a beta of 0.80. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last posted its quarterly earnings results 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 net margin of 12.83% and a return on equity of 14.07%. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. Research analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 3.16%. Medtronic’s dividend payout ratio (DPR) is currently 85.11%.

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.