Hudson Edge Investment Partners Inc. Acquires 31,054 Shares of Medtronic plc (NYSE:MDT)

Hudson Edge Investment Partners Inc. lifted its stake in shares of Medtronic plc (NYSE:MDT) by 70.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 75,198 shares of the medical technology company’s stock after buying an additional 31,054 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in Medtronic were worth $6,007,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of MDT. Fortitude Family Office LLC acquired a new stake in Medtronic in the third quarter worth $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic in the 3rd quarter valued at about $27,000. Darwin Wealth Management LLC bought a new stake in Medtronic in the 3rd quarter valued at about $27,000. Stephens Consulting LLC raised its stake in Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after buying an additional 204 shares during the period. Finally, J. Stern & Co. LLP bought a new position in Medtronic in the third quarter worth approximately $30,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MDT. Wells Fargo & Company decreased their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. JPMorgan Chase & Co. lowered their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday. Finally, 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 report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $95.00.

Insiders Place Their Bets

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

Medtronic Stock Up 2.3 %

Shares of NYSE:MDT opened at $89.95 on Friday. The company has a market capitalization of $115.34 billion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 2.46 and a beta of 0.84. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08. 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 business has a fifty day moving average price of $86.08 and a two-hundred day moving average price of $87.10.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 12.83% and a return on equity of 14.07%. Analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is 85.11%.

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.