Diversified Trust Co Has $6.29 Million Holdings in Medtronic plc (NYSE:MDT)

Diversified Trust Co grew its stake in shares of Medtronic plc (NYSE:MDT) by 1,160.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 78,753 shares of the medical technology company’s stock after acquiring an additional 72,507 shares during the quarter. Diversified Trust Co’s holdings in Medtronic were worth $6,291,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Copley Financial Group Inc. acquired a new position in shares of Medtronic in the third quarter valued at approximately $694,000. Olstein Capital Management L.P. boosted its stake in Medtronic by 19.2% during the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock valued at $7,833,000 after purchasing an additional 14,000 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its stake in Medtronic by 322.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock valued at $6,626,000 after acquiring an additional 56,178 shares in the last quarter. Ferguson Wellman Capital Management Inc. bought a new position in shares of Medtronic during the 3rd quarter worth approximately $9,486,000. Finally, Soltis Investment Advisors LLC grew its stake in Medtronic by 30.0% in the 3rd quarter. Soltis Investment Advisors LLC now owns 88,110 shares of the medical technology company’s stock valued at $7,933,000 after purchasing an additional 20,352 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Stock Up 0.5 %

Shares of NYSE MDT traded up $0.36 during mid-day trading on Tuesday, hitting $80.20. The company had a trading volume of 1,900,670 shares, compared to its average volume of 5,155,998. The company has a market capitalization of $102.84 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83. The business’s 50-day simple moving average is $84.67 and its 200 day simple moving average is $84.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $92.68.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the previous year, the company posted $1.25 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, analysts predict that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend is Friday, December 27th. Medtronic’s payout ratio is 85.63%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Sanford C. Bernstein increased their target price on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Evercore ISI lifted their price target on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Barclays raised their price target on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Truist Financial lowered their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. cut their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $95.00.

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.