Baader Bank Aktiengesellschaft Buys 7,780 Shares of Medtronic plc (NYSE:MDT)

Baader Bank Aktiengesellschaft boosted its stake in shares of Medtronic plc (NYSE:MDT) by 61.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,393 shares of the medical technology company’s stock after acquiring an additional 7,780 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Medtronic were worth $1,629,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDT. Fortitude Family Office LLC bought a new stake in shares of Medtronic during the 3rd quarter worth approximately $27,000. Darwin Wealth Management LLC bought a new position in shares of Medtronic in the 3rd quarter valued at $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic during the 3rd quarter worth $27,000. J. Stern & Co. LLP bought a new position in Medtronic in the third quarter valued at about $30,000. Finally, Chelsea Counsel Co. acquired a new position in Medtronic during the third quarter worth about $45,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Stock Down 0.5 %

Shares of NYSE MDT opened at $91.51 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08. The business has a 50-day moving average of $83.99 and a two-hundred day moving average of $85.83. The company has a market capitalization of $117.34 billion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 2.49 and a beta of 0.83.

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

Medtronic Dividend Announcement

The company also recently announced 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 3.06%. Medtronic’s dividend payout ratio (DPR) is currently 85.63%.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 40,979 shares of the company’s stock, valued at $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Robert W. Baird dropped their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Wells Fargo & Company dropped their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. JPMorgan Chase & Co. reduced their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Truist Financial dropped their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Finally, Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $95.00.

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.