Medtronic plc (NYSE:MDT) Shares Purchased by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. lifted its holdings in Medtronic plc (NYSE:MDTGet Rating) by 7.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,116 shares of the medical technology company’s stock after purchasing an additional 2,748 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Medtronic were worth $3,943,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Dixon Hughes Goodman Wealth Advisors LLC purchased a new position in Medtronic in the 4th quarter worth $25,000. PYA Waltman Capital LLC purchased a new position in Medtronic in the 4th quarter worth $25,000. Horan Securities Inc. purchased a new position in Medtronic in the 4th quarter worth $25,000. Ibex Wealth Advisors purchased a new position in Medtronic in the 3rd quarter worth $26,000. Finally, MD Financial Management Inc. raised its stake in Medtronic by 100.0% in the 3rd quarter. MD Financial Management Inc. now owns 210 shares of the medical technology company’s stock worth $26,000 after acquiring an additional 105 shares during the last quarter. 80.23% of the stock is owned by hedge funds and other institutional investors.

In related news, SVP Carol A. Surface sold 6,000 shares of the business’s stock in a transaction on Friday, March 11th. The shares were sold at an average price of $105.30, for a total transaction of $631,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Karen L. Parkhill sold 682 shares of the business’s stock in a transaction on Friday, March 18th. The stock was sold at an average price of $110.00, for a total transaction of $75,020.00. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.

MDT has been the subject of a number of research analyst reports. Piper Sandler reduced their target price on Medtronic from $110.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, February 16th. SVB Leerink reiterated a “market perform” rating on shares of Medtronic in a research note on Wednesday, April 13th. StockNews.com began coverage on Medtronic in a research note on Thursday, March 31st. They set a “buy” rating for the company. Raymond James reduced their price objective on Medtronic from $127.00 to $116.00 and set an “outperform” rating for the company in a research note on Friday, February 18th. Finally, Truist Financial lowered Medtronic from a “buy” rating to a “hold” rating and reduced their price objective for the company from $124.00 to $121.00 in a research note on Wednesday, April 13th. Eleven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $128.19.

Shares of Medtronic stock traded up $0.46 on Thursday, hitting $101.11. 229,401 shares of the company were exchanged, compared to its average volume of 6,380,778. The stock has a market capitalization of $135.64 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 2.36 and a beta of 0.74. The company has a 50-day moving average price of $107.77 and a 200 day moving average price of $108.60. Medtronic plc has a 1-year low of $98.38 and a 1-year high of $135.89. The company has a quick ratio of 2.10, a current ratio of 2.61 and a debt-to-equity ratio of 0.46.

Medtronic (NYSE:MDTGet Rating) last issued its earnings results on Tuesday, February 22nd. The medical technology company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.01. Medtronic had a return on equity of 14.57% and a net margin of 15.46%. The business had revenue of $7.76 billion for the quarter, compared to analysts’ expectations of $7.91 billion. During the same period in the previous year, the firm posted $1.29 EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year. Research analysts forecast that Medtronic plc will post 5.66 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 22nd. Stockholders of record on Friday, March 25th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Thursday, March 24th. Medtronic’s dividend payout ratio is currently 69.42%.

Medtronic Company Profile (Get Rating)

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit. The Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; AF ablation products; insertable cardiac monitor systems; mechanical circulatory support; TYRX products; and remote monitoring and patient-centered software.

See Also

Want to see what other hedge funds are holding MDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medtronic plc (NYSE:MDTGet Rating).

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.