Klein Pavlis & Peasley Financial Inc. Boosts Holdings in Medtronic plc (NYSE:MDT)

Klein Pavlis & Peasley Financial Inc. boosted its holdings in shares of Medtronic plc (NYSE:MDT) by 19.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,931 shares of the medical technology company’s stock after acquiring an additional 4,807 shares during the period. Medtronic comprises 1.9% of Klein Pavlis & Peasley Financial Inc.’s portfolio, making the stock its 18th largest holding. Klein Pavlis & Peasley Financial Inc.’s holdings in Medtronic were worth $2,391,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fortitude Family Office LLC purchased a new stake in Medtronic in the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC purchased a new stake in Medtronic during the 3rd quarter worth about $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic during the 3rd quarter worth about $27,000. Stephens Consulting LLC grew its holdings 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 worth $27,000 after buying an additional 204 shares in the last quarter. Finally, J. Stern & Co. LLP acquired a new position in shares of Medtronic in the third quarter valued at approximately $30,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic 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 in the company, valued at $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of analyst reports. Robert W. Baird decreased their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Barclays lifted their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Truist Financial reduced their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Finally, Wells Fargo & Company cut their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Medtronic has an average rating of “Hold” and an average target price of $95.00.

Medtronic Stock Performance

Shares of Medtronic stock opened at $91.62 on Thursday. The firm has a market cap of $117.48 billion, a PE ratio of 28.02, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08. The firm’s 50-day simple moving average is $84.69 and its 200-day simple moving average is $86.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion for 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%. Medtronic’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 EPS. Equities analysts forecast that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is presently 85.63%.

About Medtronic

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.