United Capital Financial Advisors LLC Has $37.10 Million Stock Position in Medtronic plc (NYSE:MDT)

United Capital Financial Advisors LLC increased its stake in Medtronic plc (NYSE:MDT - Free Report) by 19.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 464,436 shares of the medical technology company's stock after buying an additional 77,010 shares during the quarter. United Capital Financial Advisors LLC's holdings in Medtronic were worth $37,099,000 as of its most recent SEC filing.

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Several other hedge funds and other institutional investors have also made changes to their positions in the company. Copley Financial Group Inc. acquired a new position in shares of Medtronic during the 3rd quarter worth approximately $694,000. Franklin Street Advisors Inc. NC increased its holdings in shares of Medtronic by 32.6% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company's stock valued at $5,873,000 after purchasing an additional 18,057 shares during the last quarter. Olstein Capital Management L.P. raised its position in shares of Medtronic by 8.0% in the fourth quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company's stock valued at $7,509,000 after purchasing an additional 7,000 shares during the period. Czech National Bank raised its position in shares of Medtronic by 6.4% in the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company's stock valued at $22,212,000 after purchasing an additional 16,786 shares during the period. Finally, Empowered Funds LLC lifted its stake in shares of Medtronic by 2.7% during the 4th quarter. Empowered Funds LLC now owns 105,822 shares of the medical technology company's stock worth $8,453,000 after buying an additional 2,778 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Price Performance

Shares of NYSE MDT opened at $84.20 on Tuesday. The company has a market capitalization of $107.99 billion, a PE ratio of 25.59, a P/E/G ratio of 2.22 and a beta of 0.79. The firm has a fifty day simple moving average of $89.56 and a 200 day simple moving average of $87.60. 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 twelve month low of $75.96 and a twelve month high of $96.25.

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Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. On average, sell-side analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Friday, March 28th. Medtronic's dividend payout ratio is 85.11%.

Wall Street Analysts Forecast Growth

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A number of research analysts have commented on MDT shares. Truist Financial decreased their price objective on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a report on Friday. Robert W. Baird raised their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Royal Bank of Canada reiterated an "outperform" rating and issued a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Citigroup upgraded 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 research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Medtronic presently has a consensus rating of "Hold" and an average target price of $96.14.

Check Out Our Latest Stock Analysis on Medtronic

Insider Activity

In other news, EVP Brett A. Wall sold 12,437 shares of the company's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the transaction, the executive vice president now directly owns 40,979 shares of the company's stock, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Medtronic Company 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.

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