Creative Financial Designs Inc. ADV Cuts Stock Position in Medtronic plc (NYSE:MDT)

Creative Financial Designs Inc. ADV lessened its stake in Medtronic plc (NYSE:MDT) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,559 shares of the medical technology company’s stock after selling 225 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Medtronic were worth $1,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Copley Financial Group Inc. purchased a new stake in shares of Medtronic during the third quarter worth about $694,000. Franklin Street Advisors Inc. NC grew its stake in shares of 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 grew its stake in shares of 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. Olstein Capital Management L.P. grew its stake in shares of Medtronic by 8.0% during the fourth quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company’s stock worth $7,509,000 after acquiring an additional 7,000 shares during the last quarter. Finally, Czech National Bank grew its stake 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 last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 0.2 %

Shares of MDT stock opened at $93.30 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The company has a market cap of $119.66 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 2.22 and a beta of 0.80. The stock has a 50 day simple moving average of $89.88 and a 200-day simple moving average of $87.99. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25.

Medtronic (NYSE:MDT) last announced 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. The business 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, equities research analysts expect that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s payout ratio is 85.11%.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Barclays upped their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. Wells Fargo & Company dropped their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Finally, Truist Financial dropped their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Medtronic has an average rating of “Hold” and a consensus price target of $96.07.

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.