Kiker Wealth Management LLC Acquires Shares of 6,631 Medtronic plc (NYSE:MDT)

Kiker Wealth Management LLC bought a new stake in Medtronic plc (NYSE:MDT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,631 shares of the medical technology company’s stock, valued at approximately $530,000.

A number of other large investors also recently made changes to their positions in the company. AllSquare Wealth Management LLC increased its stake in Medtronic by 24.6% in the 4th quarter. AllSquare Wealth Management LLC now owns 6,084 shares of the medical technology company’s stock valued at $486,000 after buying an additional 1,200 shares during the last quarter. HUB Investment Partners LLC grew its holdings in shares of Medtronic by 21.8% in the fourth quarter. HUB Investment Partners LLC now owns 17,160 shares of the medical technology company’s stock valued at $1,371,000 after acquiring an additional 3,074 shares in the last quarter. Northwest & Ethical Investments L.P. increased its position in shares of Medtronic by 6.4% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 22,722 shares of the medical technology company’s stock valued at $1,815,000 after acquiring an additional 1,371 shares during the last quarter. Lingohr Asset Management GmbH purchased a new position in Medtronic in the fourth quarter worth $1,072,000. Finally, Wilkins Investment Counsel Inc. grew its stake in Medtronic by 0.3% in the 4th quarter. Wilkins Investment Counsel Inc. now owns 202,673 shares of the medical technology company’s stock valued at $16,190,000 after purchasing an additional 670 shares during the period. 82.06% of the stock is owned by institutional investors.

Medtronic Price Performance

Shares of NYSE:MDT opened at $91.15 on Friday. The company has a 50 day moving average of $90.47 and a 200 day moving average of $88.06. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The stock has a market cap of $116.91 billion, a P/E ratio of 27.71, a P/E/G ratio of 2.22 and a beta of 0.80. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. As a group, sell-side analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s payout ratio is 85.11%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MDT. Royal Bank of Canada restated an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Barclays upped their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Truist Financial decreased their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Finally, Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and upped their price target for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $96.07.

Insider Activity

In related news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction 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 transaction, the executive vice president now owns 40,979 shares of the company’s stock, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.