Geneos Wealth Management Inc. Purchases 4,224 Shares of Medtronic plc (NYSE:MDT)

Geneos Wealth Management Inc. increased its holdings in Medtronic plc (NYSE:MDT) by 7.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,258 shares of the medical technology company’s stock after buying an additional 4,224 shares during the period. Geneos Wealth Management Inc.’s holdings in Medtronic were worth $4,973,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new stake in shares of Medtronic in the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC bought a new position in shares of Medtronic in the third quarter worth approximately $27,000. Darwin Wealth Management LLC bought a new position in shares of Medtronic in the third quarter worth approximately $27,000. J. Stern & Co. LLP purchased a new stake in Medtronic in the third quarter valued at approximately $30,000. Finally, Kieckhefer Group LLC bought a new stake in Medtronic during the fourth quarter valued at approximately $40,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 0.9 %

Shares of MDT opened at $90.07 on Friday. The firm has a fifty day simple moving average of $83.75 and a two-hundred day simple moving average of $85.50. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68. The stock has a market capitalization of $115.49 billion, a P/E ratio of 27.54, a PEG ratio of 2.49 and a beta of 0.83. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate 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 previous year, the business earned $1.25 EPS. On average, research analysts anticipate that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued 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 3.11%. Medtronic’s dividend payout ratio is presently 85.63%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MDT. JPMorgan Chase & Co. decreased their price target 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. Truist Financial lowered 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. Citigroup lifted their price target on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Finally, Robert W. Baird dropped 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $95.00.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the transaction, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

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.