Medtronic plc (NYSE:MDT) Shares Purchased by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC increased its holdings in shares of Medtronic plc (NYSE:MDT) by 145.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,179 shares of the medical technology company’s stock after acquiring an additional 16,679 shares during the period. Aptus Capital Advisors LLC’s holdings in Medtronic were worth $2,267,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Medtronic during the 4th quarter worth about $1,163,580,000. Raymond James Financial Inc. acquired a new position in shares of Medtronic during the fourth quarter valued at approximately $852,732,000. Beutel Goodman & Co Ltd. purchased a new position in shares of Medtronic in the fourth quarter valued at approximately $377,169,000. Van ECK Associates Corp boosted its stake in shares of Medtronic by 2,043.4% in the fourth quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company’s stock worth $207,540,000 after acquiring an additional 2,476,935 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Medtronic by 17.8% during the fourth quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company’s stock worth $1,233,769,000 after purchasing an additional 2,333,600 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Price Performance

Medtronic stock opened at $83.38 on Tuesday. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $96.25. The firm has a market cap of $106.93 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. The company’s 50 day moving average is $87.51 and its two-hundred day moving average is $86.99.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.36 by $0.03. The company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. On average, research analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a dividend of $0.70 per share. The ex-dividend date was Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.36%. Medtronic’s dividend payout ratio is presently 85.11%.

Analyst Ratings Changes

MDT has been the topic of a number of analyst reports. Robert W. Baird lifted their price objective on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. UBS Group boosted their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Truist Financial cut their price objective on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, April 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. Finally, Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and raised their price target for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $96.14.

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.