Callan Capital LLC Boosts Position in Medtronic plc (NYSE:MDT)

Callan Capital LLC grew its holdings in shares of Medtronic plc (NYSE:MDT) by 22.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor 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 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Fortitude Family Office LLC purchased a new position in shares of Medtronic during the third quarter valued at approximately $27,000. Darwin Wealth Management LLC purchased a new position in shares of Medtronic during the third quarter valued at approximately $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic during the third quarter valued at approximately $27,000. J. Stern & Co. LLP purchased a new position in shares of Medtronic during the third quarter valued at approximately $30,000. Finally, Stephens Consulting LLC increased its stake in shares of Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after buying an additional 204 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MDT has been the topic of several research reports. Sanford C. Bernstein lifted their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. UBS Group lifted their price target on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday. Truist Financial dropped their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday. Finally, Wells Fargo & Company dropped their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Medtronic currently has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Trading Up 2.3 %

Shares of NYSE:MDT opened at $89.95 on Friday. The company has a market cap of $115.34 billion, a P/E ratio of 27.34, a PEG ratio of 2.22 and a beta of 0.84. 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 plc has a 1 year low of $75.96 and a 1 year high of $93.08. The stock’s fifty day moving average price is $86.08 and its 200-day moving average price is $87.14.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The firm had revenue of $8.29 billion for 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%. Sell-side analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

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

Insider Activity

In other news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction 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. This represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.