Oarsman Capital Inc. Has $2.43 Million Position in Medtronic plc (NYSE:MDT)

Oarsman Capital Inc. lifted its position in shares of Medtronic plc (NYSE:MDT) by 8.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,400 shares of the medical technology company’s stock after purchasing an additional 2,353 shares during the period. Oarsman Capital Inc.’s holdings in Medtronic were worth $2,428,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in Medtronic during the fourth quarter worth approximately $1,163,580,000. Raymond James Financial Inc. acquired a new position in shares of Medtronic in the fourth quarter valued at $852,732,000. Beutel Goodman & Co Ltd. bought a new position in shares of Medtronic in the fourth quarter valued at about $377,169,000. Van ECK Associates Corp lifted its stake in shares of Medtronic by 2,043.4% during the 4th quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company’s stock worth $207,540,000 after buying an additional 2,476,935 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of Medtronic by 117.4% during the 4th quarter. Boston Partners now owns 3,102,605 shares of the medical technology company’s stock worth $248,311,000 after buying an additional 1,675,588 shares during the period. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Performance

Medtronic stock opened at $82.86 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The stock has a market cap of $106.28 billion, a PE ratio of 25.19, 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. The business’s 50-day moving average price is $90.87 and its two-hundred day moving average price is $87.94.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. As a group, analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.38%. Medtronic’s dividend payout ratio is currently 85.11%.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on MDT shares. Robert W. Baird increased their target price on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and boosted their target price for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Truist Financial dropped their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Finally, UBS Group raised their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Medtronic has a consensus rating of “Hold” and a consensus target price of $96.07.

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.