Townsquare Capital LLC Raises Holdings in Medtronic plc (NYSE:MDT)

Townsquare Capital LLC increased its position in shares of Medtronic plc (NYSE:MDT) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 373,264 shares of the medical technology company’s stock after purchasing an additional 11,449 shares during the period. Townsquare Capital LLC’s holdings in Medtronic were worth $29,816,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Mainstream Capital Management LLC purchased a new position in Medtronic during the 4th quarter valued at about $26,000. Stephens Consulting LLC boosted its stake in shares of Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 204 shares in the last quarter. Rakuten Securities Inc. increased its holdings in Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after buying an additional 294 shares during the period. Fiduciary Advisors Inc. bought a new position in Medtronic in the fourth quarter worth approximately $36,000. Finally, Kieckhefer Group LLC purchased a new stake in Medtronic during the fourth quarter worth $40,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Truist Financial reduced their target price on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a report on Friday. Robert W. Baird raised their price target on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Finally, UBS Group lifted their price target 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 investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $96.14.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Medtronic Stock Up 0.2 %

Medtronic stock opened at $82.69 on Friday. The business’s 50-day simple moving average is $89.71 and its two-hundred day simple moving average is $87.65. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The company has a market cap of $106.05 billion, a PE ratio of 25.13, a PEG ratio of 2.22 and a beta of 0.79. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25.

Medtronic (NYSE:MDT) last issued its 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. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Equities analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.39%. Medtronic’s payout ratio is currently 85.11%.

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.