Stonebridge Financial Group LLC Purchases New Position in Medtronic plc (NYSE:MDT)

Stonebridge Financial Group LLC purchased a new position in shares of Medtronic plc (NYSE:MDT) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 30,520 shares of the medical technology company’s stock, valued at approximately $2,438,000.

Other institutional investors also recently bought and sold shares of the company. Core Alternative Capital increased its holdings in Medtronic by 4.4% in the 4th quarter. Core Alternative Capital now owns 42,517 shares of the medical technology company’s stock worth $3,396,000 after acquiring an additional 1,811 shares in the last quarter. Carnegie Lake Advisors LLC grew its position in shares of Medtronic by 0.9% in the fourth quarter. Carnegie Lake Advisors LLC now owns 16,156 shares of the medical technology company’s stock valued at $1,291,000 after purchasing an additional 150 shares during the period. Summit Trail Advisors LLC increased its stake in shares of Medtronic by 24.3% during the fourth quarter. Summit Trail Advisors LLC now owns 17,894 shares of the medical technology company’s stock worth $1,442,000 after purchasing an additional 3,497 shares in the last quarter. MADDEN SECURITIES Corp lifted its stake in Medtronic by 12.3% in the 4th quarter. MADDEN SECURITIES Corp now owns 2,735 shares of the medical technology company’s stock valued at $218,000 after buying an additional 300 shares in the last quarter. Finally, Paladin Wealth LLC boosted its holdings in Medtronic by 21.9% in the 4th quarter. Paladin Wealth LLC now owns 10,685 shares of the medical technology company’s stock worth $854,000 after buying an additional 1,917 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MDT has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Truist Financial decreased their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Sanford C. Bernstein upped their target price on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. decreased their price target 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. Finally, Robert W. Baird dropped their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $95.00.

Insider Buying and Selling

In other news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by corporate insiders.

Medtronic Stock Up 0.9 %

Shares of MDT opened at $90.84 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The firm has a market cap of $116.48 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The company’s 50-day moving average price is $84.85 and its 200 day moving average price is $86.48. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $93.08.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping 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 firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period in the prior year, the business posted $1.25 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts forecast that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The company 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 dividend yield of 3.08%. 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.