Medtronic plc (NYSE:MDT) Shares Purchased by Mcdonald Partners LLC

Mcdonald Partners LLC boosted its stake in Medtronic plc (NYSE:MDT) by 20.5% in the 4th quarter, Holdings Channel reports. The firm owned 13,497 shares of the medical technology company’s stock after buying an additional 2,297 shares during the quarter. Mcdonald Partners LLC’s holdings in Medtronic were worth $1,078,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Fortitude Family Office LLC acquired a new stake in Medtronic in the third quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new stake in Medtronic during the 3rd quarter valued at approximately $27,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic in the third quarter worth $27,000. Stephens Consulting LLC increased its position 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 worth $27,000 after purchasing an additional 204 shares during the last quarter. Finally, J. Stern & Co. LLP acquired a new stake in shares of Medtronic in the 3rd quarter valued at about $30,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Truist Financial lowered their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Barclays raised their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Wells Fargo & Company cut their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Finally, Robert W. Baird decreased their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Medtronic currently has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Stock Performance

NYSE:MDT opened at $93.02 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 company has a 50-day moving average of $85.69 and a 200-day moving average of $86.99. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $93.08. The firm has a market cap of $119.28 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84.

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

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.01%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is 85.63%.

Insider Transactions at Medtronic

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

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.