Angeles Investment Advisors LLC Purchases 128 Shares of Medtronic plc (NYSE:MDT)

Angeles Investment Advisors LLC grew its position in Medtronic plc (NYSE:MDTFree Report) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,627 shares of the medical technology company’s stock after purchasing an additional 128 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Medtronic were worth $1,046,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Morgan Stanley lifted its position in shares of Medtronic by 9.2% during the 3rd quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock valued at $1,863,229,000 after acquiring an additional 1,994,123 shares during the period. Norges Bank acquired a new position in shares of Medtronic during the 4th quarter valued at $1,229,726,000. Northern Trust Corp lifted its position in shares of Medtronic by 2.1% during the 3rd quarter. Northern Trust Corp now owns 13,622,933 shares of the medical technology company’s stock valued at $1,067,493,000 after acquiring an additional 285,819 shares during the period. Sanders Capital LLC lifted its position in shares of Medtronic by 2.8% during the 4th quarter. Sanders Capital LLC now owns 12,634,161 shares of the medical technology company’s stock valued at $1,040,802,000 after acquiring an additional 346,641 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Medtronic by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,089,400 shares of the medical technology company’s stock valued at $893,352,000 after acquiring an additional 101,111 shares during the period. 82.06% of the stock is owned by institutional investors.

Insider Transactions at Medtronic

In related news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the sale, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.30% of the company’s stock.

Medtronic Stock Performance

MDT traded up $1.74 during trading on Friday, hitting $84.08. 7,034,457 shares of the company traded hands, compared to its average volume of 6,312,389. The firm has a market cap of $111.64 billion, a P/E ratio of 30.59, a price-to-earnings-growth ratio of 2.40 and a beta of 0.83. The stock’s fifty day moving average is $82.38 and its 200 day moving average is $83.26. The company has a quick ratio of 1.55, a current ratio of 2.03 and a debt-to-equity ratio of 0.47. Medtronic plc has a one year low of $68.84 and a one year high of $91.00.

Medtronic (NYSE:MDTGet Free Report) last released its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.01. The business had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.44 billion. Medtronic had a net margin of 11.36% and a return on equity of 13.47%. Medtronic’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.57 EPS. As a group, equities analysts predict that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.33%. This is an increase from Medtronic’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Friday, June 28th. Medtronic’s dividend payout ratio is presently 100.36%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MDT. The Goldman Sachs Group began coverage on shares of Medtronic in a report on Thursday, May 30th. They set a “sell” rating and a $83.00 price objective on the stock. Truist Financial lowered their price objective on shares of Medtronic from $90.00 to $88.00 and set a “hold” rating on the stock in a report on Friday, May 24th. Wells Fargo & Company upped their price objective on shares of Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Mizuho upped their price objective on shares of Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a report on Wednesday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Medtronic currently has a consensus rating of “Hold” and a consensus target price of $93.00.

Check Out Our Latest Stock Report on Medtronic

Medtronic Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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