2,976 Shares in Medtronic plc (NYSE:MDT) Acquired by Copperleaf Capital LLC

Copperleaf Capital LLC purchased a new position in Medtronic plc (NYSE:MDT) during the 4th quarter, HoldingsChannel reports. The firm purchased 2,976 shares of the medical technology company’s stock, valued at approximately $238,000.

Several other hedge funds have also made changes to their positions in the stock. Good Life Advisors LLC raised its stake in Medtronic by 7.7% during the 3rd quarter. Good Life Advisors LLC now owns 3,870 shares of the medical technology company’s stock valued at $348,000 after acquiring an additional 276 shares in the last quarter. Teamwork Financial Advisors LLC bought a new stake in Medtronic during the 3rd quarter valued at $217,000. Stonegate Investment Group LLC raised its stake in Medtronic by 20.1% during the 3rd quarter. Stonegate Investment Group LLC now owns 6,363 shares of the medical technology company’s stock valued at $573,000 after acquiring an additional 1,063 shares in the last quarter. Aaron Wealth Advisors LLC raised its stake in Medtronic by 70.6% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 6,573 shares of the medical technology company’s stock valued at $592,000 after acquiring an additional 2,720 shares in the last quarter. Finally, Stratos Wealth Advisors LLC raised its stake in Medtronic by 58.2% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 12,406 shares of the medical technology company’s stock valued at $1,117,000 after acquiring an additional 4,565 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Sanford C. Bernstein lifted their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Truist Financial lowered their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Wells Fargo & Company lowered their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Robert W. Baird lowered their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $95.00.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $93.02 on Friday. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $93.08. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $119.28 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 2.57 and a beta of 0.84. The stock’s fifty day simple moving average is $85.51 and its 200-day simple moving average is $86.81.

Medtronic (NYSE:MDT) last issued its quarterly earnings results 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 business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the previous year, the company posted $1.25 earnings per share. Medtronic’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts predict that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.01%. Medtronic’s payout ratio is 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.