Talbot Financial LLC Purchases 8,031 Shares of Medtronic plc (NYSE:MDT)

Talbot Financial LLC grew its position in shares of Medtronic plc (NYSE:MDT) by 6.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 133,453 shares of the medical technology company’s stock after buying an additional 8,031 shares during the quarter. Talbot Financial LLC’s holdings in Medtronic were worth $10,660,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MDT. Agate Pass Investment Management LLC lifted its position in shares of Medtronic by 3.9% during the fourth quarter. Agate Pass Investment Management LLC now owns 19,746 shares of the medical technology company’s stock worth $1,577,000 after purchasing an additional 745 shares in the last quarter. Kieckhefer Group LLC acquired a new position in Medtronic in the fourth quarter valued at approximately $40,000. Brookstone Capital Management lifted its holdings in Medtronic by 11.4% in the fourth quarter. Brookstone Capital Management now owns 20,026 shares of the medical technology company’s stock valued at $1,600,000 after buying an additional 2,049 shares during the period. Fiduciary Alliance LLC acquired a new position in Medtronic in the fourth quarter valued at approximately $470,000. Finally, Clark & Stuart Inc acquired a new position in Medtronic in the fourth quarter valued at approximately $509,000. 82.06% of the stock is owned by institutional investors.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the sale, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Medtronic Stock Up 1.1 %

Medtronic stock traded up $0.88 during mid-day trading on Monday, reaching $81.54. The company’s stock had a trading volume of 2,843,749 shares, compared to its average volume of 6,725,093. The company has a market capitalization of $104.56 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68. The business’s 50 day simple moving average is $83.99 and its 200 day simple moving average is $84.95. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter last year, the firm posted $1.25 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, research analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

Analyst Ratings Changes

MDT has been the topic of several analyst reports. Truist Financial cut their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Citigroup increased their target price on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Barclays increased their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Sanford C. Bernstein increased their target price on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.