McKinley Carter Wealth Services Inc. Has $1.57 Million Stake in Medtronic plc (NYSE:MDT)

McKinley Carter Wealth Services Inc. increased its holdings in shares of Medtronic plc (NYSE:MDT) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,677 shares of the medical technology company’s stock after acquiring an additional 129 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Medtronic were worth $1,572,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Nvest Financial LLC raised its holdings in Medtronic by 5.3% in the 4th quarter. Nvest Financial LLC now owns 10,588 shares of the medical technology company’s stock valued at $846,000 after acquiring an additional 536 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Medtronic by 9.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 859,530 shares of the medical technology company’s stock worth $68,659,000 after purchasing an additional 74,963 shares during the period. Asset Dedication LLC lifted its holdings in Medtronic by 19.5% during the 4th quarter. Asset Dedication LLC now owns 1,917 shares of the medical technology company’s stock worth $153,000 after purchasing an additional 313 shares during the last quarter. R Squared Ltd bought a new stake in Medtronic in the 4th quarter valued at $915,000. Finally, SteelPeak Wealth LLC bought a new stake in Medtronic in the 4th quarter valued at $210,000. Institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 12,437 shares of the company’s 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 transaction, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This 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 accessible through this link. Company insiders own 0.20% of the company’s stock.

Medtronic Price Performance

Medtronic stock opened at $92.13 on Wednesday. The stock’s 50 day moving average is $83.99 and its 200 day moving average is $85.83. Medtronic plc has a one year low of $75.96 and a one year high of $93.08. The firm has a market cap of $118.13 billion, a P/E ratio of 28.17, a P/E/G ratio of 2.49 and a beta of 0.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the previous year, the company earned $1.25 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, research analysts expect that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.04%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Evercore ISI raised their target price on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Citigroup lifted their price objective on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Truist Financial decreased 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. Wells Fargo & Company cut their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $95.00.

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.