Bradley Foster & Sargent Inc. CT Has $1.99 Million Position in Medtronic plc (NYSE:MDT)

Bradley Foster & Sargent Inc. CT boosted its holdings in Medtronic plc (NYSE:MDT) by 10.2% during the fourth quarter, Holdings Channel reports. The fund owned 24,854 shares of the medical technology company’s stock after purchasing an additional 2,294 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Medtronic were worth $1,985,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Copley Financial Group Inc. acquired a new stake in shares of Medtronic during the 3rd quarter worth about $694,000. Olstein Capital Management L.P. raised its holdings in Medtronic by 19.2% in 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 acquiring an additional 14,000 shares during the period. Franklin Street Advisors Inc. NC lifted its position in Medtronic by 32.6% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock worth $5,873,000 after acquiring an additional 18,057 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its position in Medtronic by 322.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock worth $6,626,000 after acquiring an additional 56,178 shares during the last quarter. Finally, Czech National Bank boosted its holdings in shares of Medtronic by 6.4% during the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock worth $22,212,000 after acquiring an additional 16,786 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research note on Wednesday. Robert W. Baird increased their price objective on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday. Sanford C. Bernstein boosted their target price on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Truist Financial lowered their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Finally, UBS Group lifted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $95.00.

Medtronic Stock Performance

Shares of Medtronic stock opened at $89.95 on Friday. The company has a 50 day moving average of $86.08 and a 200-day moving average of $87.10. The company has a market cap of $115.34 billion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 2.46 and a beta of 0.84. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $93.08.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping 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 analysts’ expectations of $8.33 billion. As a group, equities research analysts forecast that Medtronic plc will post 5.46 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 paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.20% of the company’s stock.

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.