Medtronic plc (NYSE:MDT) Stock Holdings Increased by Regatta Capital Group LLC

Regatta Capital Group LLC boosted its stake in shares of Medtronic plc (NYSE:MDT) by 3.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,064 shares of the medical technology company’s stock after purchasing an additional 709 shares during the period. Regatta Capital Group LLC’s holdings in Medtronic were worth $1,683,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC acquired a new position in shares of Medtronic in the third quarter worth $27,000. Highline Wealth Partners LLC purchased a new position in Medtronic in the third quarter valued at about $27,000. Darwin Wealth Management LLC acquired a new position in Medtronic in the 3rd quarter worth about $27,000. J. Stern & Co. LLP purchased a new stake in shares of Medtronic during the 3rd quarter worth about $30,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Medtronic during the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of Medtronic 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 owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Sanford C. Bernstein increased their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Truist Financial lowered 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. JPMorgan Chase & Co. reduced their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Finally, Citigroup boosted their price objective on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Medtronic presently has an average rating of “Hold” and an average target price of $95.00.

Medtronic Trading Up 0.9 %

Shares of MDT stock opened at $90.07 on Friday. The stock has a market cap of $115.49 billion, a price-to-earnings ratio of 27.54, a P/E/G ratio of 2.49 and a beta of 0.83. The firm has a fifty day moving average of $83.75 and a 200-day moving average of $85.50. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the business earned $1.25 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. On average, equities research analysts forecast that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. Medtronic’s payout ratio is presently 85.63%.

Medtronic 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.