Versant Capital Management Inc Buys 238 Shares of Medtronic plc (NYSE:MDT)

Versant Capital Management Inc raised its stake in shares of Medtronic plc (NYSE:MDT) by 15.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,788 shares of the medical technology company’s stock after buying an additional 238 shares during the quarter. Versant Capital Management Inc’s holdings in Medtronic were worth $143,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Medtronic by 436.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock valued at $661,125,000 after acquiring an additional 5,975,110 shares during the period. Bank of Montreal Can lifted its stake in shares of Medtronic by 65.0% in the 3rd quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company’s stock worth $406,122,000 after purchasing an additional 1,790,483 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Medtronic by 1,195.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock worth $144,637,000 after buying an additional 1,695,800 shares during the last quarter. Janus Henderson Group PLC grew its position in Medtronic by 58.4% during the third quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company’s stock valued at $346,705,000 after buying an additional 1,420,263 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in Medtronic by 8,908.6% during the third quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock valued at $116,896,000 after buying an additional 1,284,002 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Up 0.9 %

Shares of Medtronic stock opened at $80.95 on Friday. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $85.08 and a 200-day moving average price of $84.85. The firm has a market cap of $103.80 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 2.33 and a beta of 0.83.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share 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 analysts’ expectations of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 EPS. Equities research analysts anticipate that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Friday, December 27th. Medtronic’s payout ratio is 85.63%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MDT. Truist Financial dropped their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. JPMorgan Chase & Co. cut their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Barclays raised their price objective on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Finally, Citigroup raised their target price on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.