Callan Capital LLC Increases Stake in Medtronic plc (NYSE:MDT)

Callan Capital LLC increased its position in Medtronic plc (NYSE:MDT) by 22.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,873 shares of the medical technology company’s stock after acquiring an additional 701 shares during the quarter. Callan Capital LLC’s holdings in Medtronic were worth $309,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new position in Medtronic in the 3rd quarter worth about $27,000. Darwin Wealth Management LLC bought a new position in Medtronic in the 3rd quarter worth about $27,000. Highline Wealth Partners LLC bought a new position in Medtronic in the 3rd quarter worth about $27,000. J. Stern & Co. LLP bought a new position in Medtronic in the 3rd quarter worth about $30,000. Finally, Stephens Consulting LLC boosted its stake 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 period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

NYSE:MDT opened at $89.95 on Friday. The business has a 50 day moving average of $86.08 and a 200 day moving average of $87.14. The company has a market capitalization of $115.34 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 2.22 and a beta of 0.84. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $93.08. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39.

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 analysts’ consensus estimates of $1.36 by $0.03. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, sell-side analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. Medtronic’s dividend payout ratio (DPR) is currently 85.11%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MDT. JPMorgan Chase & Co. cut their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Wells Fargo & Company cut their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Wednesday. Finally, Barclays lifted their price target on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $95.00.

Insiders Place Their Bets

In other Medtronic 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 value of $792,038.50. Following the transaction, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

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.