30,520 Shares in Medtronic plc (NYSE:MDT) Acquired by Stonebridge Financial Group LLC

Stonebridge Financial Group LLC purchased a new stake in Medtronic plc (NYSE:MDT) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 30,520 shares of the medical technology company’s stock, valued at approximately $2,438,000.

A number of other hedge funds have also made changes to their positions in MDT. Fortitude Family Office LLC acquired a new position in shares of Medtronic in the 3rd quarter valued at $27,000. Highline Wealth Partners LLC acquired a new stake in Medtronic during the 3rd quarter worth $27,000. Darwin Wealth Management LLC purchased a new stake in Medtronic in the third quarter valued at $27,000. Stephens Consulting LLC boosted its stake in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 204 shares in the last quarter. Finally, J. Stern & Co. LLP acquired a new stake in shares of Medtronic during the third quarter worth about $30,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Robert W. Baird decreased their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Sanford C. Bernstein lifted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Barclays boosted 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. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Finally, Truist Financial dropped their price objective 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Medtronic has a consensus rating of “Hold” and an average price target of $95.00.

Insider Activity at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

Medtronic Price Performance

MDT stock opened at $90.84 on Tuesday. The firm has a 50 day moving average of $84.85 and a 200-day moving average of $86.48. The company has a market cap of $116.48 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 2.57 and a beta of 0.84. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $93.08.

Medtronic (NYSE:MDT) last posted its 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 company had revenue of $8.40 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned $1.25 earnings per share. As a group, equities analysts expect that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.08%. Medtronic’s dividend payout ratio (DPR) is 85.63%.

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.