Medtronic plc (NYSE:MDT) Position Boosted by Y.D. More Investments Ltd

Y.D. More Investments Ltd lifted its stake in shares of Medtronic plc (NYSE:MDT) by 19.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,449 shares of the medical technology company’s stock after purchasing an additional 236 shares during the quarter. Y.D. More Investments Ltd’s holdings in Medtronic were worth $116,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sargent Investment Group LLC acquired a new stake in Medtronic in the 4th quarter valued at about $453,000. Old North State Wealth Management LLC lifted its stake in Medtronic by 4.9% in the 4th quarter. Old North State Wealth Management LLC now owns 33,114 shares of the medical technology company’s stock worth $2,648,000 after acquiring an additional 1,548 shares in the last quarter. Tranquilli Financial Advisor LLC boosted its holdings in shares of Medtronic by 23.8% during the fourth quarter. Tranquilli Financial Advisor LLC now owns 6,470 shares of the medical technology company’s stock worth $517,000 after purchasing an additional 1,242 shares during the period. Mather Group LLC. grew its holdings in shares of Medtronic by 7.1% during the 4th quarter. Mather Group LLC. now owns 2,517 shares of the medical technology company’s stock valued at $201,000 after acquiring an additional 167 shares in the last quarter. Finally, Stephens Consulting LLC increased its position in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 204 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. 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 report on Tuesday, November 26th. Truist Financial decreased their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $95.00.

Insider Activity

In other news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated 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 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. Insiders own 0.20% of the company’s stock.

Medtronic Price Performance

MDT opened at $91.62 on Thursday. The stock has a market capitalization of $117.48 billion, a P/E ratio of 28.02, a PEG ratio of 2.57 and a beta of 0.84. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $93.08. The stock has a 50-day moving average price of $84.58 and a 200-day moving average price of $86.24.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the previous year, the business posted $1.25 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities analysts predict 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. Investors of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.06%. Medtronic’s payout ratio is 85.63%.

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.