Eubel Brady & Suttman Asset Management Inc. Acquires 646 Shares of Medtronic plc (NYSE:MDT)

Eubel Brady & Suttman Asset Management Inc. raised its holdings in shares of Medtronic plc (NYSE:MDT) by 0.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 323,959 shares of the medical technology company’s stock after buying an additional 646 shares during the quarter. Medtronic comprises approximately 3.4% of Eubel Brady & Suttman Asset Management Inc.’s holdings, making the stock its 6th largest holding. Eubel Brady & Suttman Asset Management Inc.’s holdings in Medtronic were worth $25,878,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Fortitude Family Office LLC purchased a new position in shares of Medtronic during the third quarter worth $27,000. Highline Wealth Partners LLC acquired a new stake in Medtronic during the 3rd quarter worth about $27,000. Darwin Wealth Management LLC purchased a new position in shares of Medtronic during the 3rd quarter valued at about $27,000. Stephens Consulting LLC lifted its holdings in shares of Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after buying an additional 204 shares during the period. Finally, J. Stern & Co. LLP purchased a new stake in shares of Medtronic in the third quarter worth about $30,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Medtronic

In related 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 transaction of $792,038.50. Following the transaction, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on MDT. Wells Fargo & Company lowered their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 price target on shares of Medtronic in a report on Wednesday. Sanford C. Bernstein lifted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Truist Financial decreased their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Finally, Barclays raised their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Medtronic has a consensus rating of “Hold” and an average target price of $95.00.

Medtronic Price Performance

Shares of Medtronic stock opened at $89.95 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The business has a 50 day simple moving average of $86.08 and a two-hundred day simple moving average of $87.10. The stock has a market capitalization of $115.34 billion, a P/E ratio of 27.34, a PEG ratio of 2.46 and a beta of 0.84. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. As a group, analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.70 per share. 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 3.11%. Medtronic’s payout ratio is presently 85.11%.

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.