TigerOak Management L.L.C. Invests $361,000 in Medtronic plc (NYSE:MDT)

TigerOak Management L.L.C. bought a new position in shares of Medtronic plc (NYSE:MDT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,524 shares of the medical technology company’s stock, valued at approximately $361,000.

Several other large investors also recently modified their holdings of MDT. Good Life Advisors LLC grew its holdings in shares of Medtronic by 7.7% during the 3rd quarter. Good Life Advisors LLC now owns 3,870 shares of the medical technology company’s stock worth $348,000 after purchasing an additional 276 shares in the last quarter. Teamwork Financial Advisors LLC acquired a new stake in Medtronic in the third quarter valued at about $217,000. Stonegate Investment Group LLC boosted its stake in Medtronic by 20.1% in the third quarter. Stonegate Investment Group LLC now owns 6,363 shares of the medical technology company’s stock valued at $573,000 after buying an additional 1,063 shares in the last quarter. Aaron Wealth Advisors LLC boosted its stake in Medtronic by 70.6% in the third quarter. Aaron Wealth Advisors LLC now owns 6,573 shares of the medical technology company’s stock valued at $592,000 after buying an additional 2,720 shares in the last quarter. Finally, Stratos Wealth Advisors LLC boosted its stake in Medtronic by 58.2% in the third quarter. Stratos Wealth Advisors LLC now owns 12,406 shares of the medical technology company’s stock valued at $1,117,000 after buying an additional 4,565 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MDT has been the topic of several research analyst reports. Robert W. Baird reduced their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. Sanford C. Bernstein raised their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Truist Financial reduced their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Wednesday. Finally, Barclays lifted their price target on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $95.00.

Medtronic Price Performance

Shares of MDT opened at $93.02 on Friday. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The company has a market capitalization of $119.28 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The business has a 50-day moving average of $85.51 and a 200-day moving average of $86.81.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $1.25 earnings per share. As a group, equities research analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.01%. Medtronic’s payout ratio is currently 85.63%.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the sale, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

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.