805 Shares in Medtronic plc (NYSE:MDT) Bought by Murphy & Mullick Capital Management Corp

Murphy & Mullick Capital Management Corp bought a new stake in Medtronic plc (NYSE:MDT) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 805 shares of the medical technology company’s stock, valued at approximately $65,000.

Other large investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in Medtronic during the 4th quarter valued at about $852,732,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Medtronic by 436.7% during the third 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 worth $661,125,000 after acquiring an additional 5,975,110 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Medtronic by 2,043.4% during the fourth quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company’s stock valued at $207,540,000 after acquiring an additional 2,476,935 shares in the last quarter. Boston Partners increased its holdings in shares of Medtronic by 117.4% during the fourth quarter. Boston Partners now owns 3,102,605 shares of the medical technology company’s stock valued at $248,311,000 after acquiring an additional 1,675,588 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Medtronic by 58.4% in the 3rd quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company’s stock valued at $346,705,000 after purchasing an additional 1,420,263 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This trade 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. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

MDT has been the topic of a number of recent analyst reports. UBS Group upped their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Robert W. Baird boosted their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Royal Bank of Canada restated an “outperform” rating and issued a $105.00 target price on shares of Medtronic 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. Finally, Truist Financial cut their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $96.07.

Medtronic Stock Performance

MDT opened at $89.00 on Friday. The firm has a fifty day moving average price of $91.00 and a 200 day moving average price of $88.05. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The stock has a market cap of $114.14 billion, a P/E ratio of 27.05, a P/E/G ratio of 2.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last issued 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 net margin of 12.83% and a return on equity of 14.07%. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Equities research analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s payout ratio is currently 85.11%.

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.