Legacy Capital Group California Inc. Acquires 603 Shares of Medtronic plc (NYSE:MDT)

Legacy Capital Group California Inc. lifted its holdings in shares of Medtronic plc (NYSE:MDT) by 4.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,259 shares of the medical technology company’s stock after purchasing an additional 603 shares during the period. Legacy Capital Group California Inc.’s holdings in Medtronic were worth $1,059,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Fortitude Family Office LLC bought a new stake in shares of Medtronic during the third quarter worth $27,000. Darwin Wealth Management LLC bought a new position in Medtronic in the third quarter valued at about $27,000. Highline Wealth Partners LLC bought a new position in Medtronic in the third quarter valued at about $27,000. J. Stern & Co. LLP bought a new position in Medtronic in the third quarter valued at about $30,000. Finally, Stephens Consulting LLC boosted its holdings in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 204 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction that occurred on Friday, January 24th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MDT. JPMorgan Chase & Co. decreased their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Truist Financial decreased their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Wednesday. Sanford C. Bernstein raised their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Finally, UBS Group raised their price target on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have given 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.com, the company currently has an average rating of “Hold” and a consensus price target of $95.20.

Medtronic Trading Up 1.3 %

NYSE MDT opened at $88.14 on Friday. The firm has a market cap of $113.02 billion, a P/E ratio of 26.79, a P/E/G ratio of 2.46 and a beta of 0.84. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The stock’s 50-day moving average is $85.93 and its 200-day moving average is $87.03. Medtronic plc has a one year low of $75.96 and a one year high of $93.08.

Medtronic (NYSE:MDT) last released its quarterly 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 company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Sell-side analysts anticipate that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio 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.