PFG Investments LLC Raises Holdings in Medtronic plc (NYSE:MDT)

PFG Investments LLC lifted its holdings in Medtronic plc (NYSE:MDT) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,421 shares of the medical technology company’s stock after purchasing an additional 371 shares during the quarter. PFG Investments LLC’s holdings in Medtronic were worth $673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Granite Group Advisors LLC lifted its stake in Medtronic by 4.0% during the 4th quarter. Granite Group Advisors LLC now owns 28,316 shares of the medical technology company’s stock valued at $2,262,000 after acquiring an additional 1,097 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Medtronic by 20.2% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,614 shares of the medical technology company’s stock worth $928,000 after purchasing an additional 1,955 shares during the last quarter. Stablepoint Partners LLC grew its position in Medtronic by 1.4% in the 4th quarter. Stablepoint Partners LLC now owns 65,689 shares of the medical technology company’s stock worth $5,247,000 after purchasing an additional 898 shares during the period. Regatta Capital Group LLC raised its stake in Medtronic by 3.5% during the 4th quarter. Regatta Capital Group LLC now owns 21,064 shares of the medical technology company’s stock valued at $1,683,000 after buying an additional 709 shares during the last quarter. Finally, KFG Wealth Management LLC lifted its holdings in shares of Medtronic by 5.5% during the 4th quarter. KFG Wealth Management LLC now owns 2,725 shares of the medical technology company’s stock valued at $218,000 after buying an additional 141 shares during the period. 82.06% of the stock is owned by institutional investors.

Medtronic Trading Down 0.5 %

Shares of MDT opened at $91.51 on Thursday. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08. The company has a 50 day simple moving average of $83.99 and a two-hundred day simple moving average of $85.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The firm has a market cap of $117.34 billion, a P/E ratio of 27.98, a price-to-earnings-growth ratio of 2.49 and a beta of 0.83.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.25 EPS. On average, equities analysts expect that Medtronic plc will post 5.45 earnings per share for the current fiscal 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 paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is 85.63%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Wells Fargo & Company reduced their price target 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. 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 report on Wednesday, December 18th. Barclays upped their target price on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, Robert W. Baird dropped their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Medtronic has a consensus rating of “Hold” and a consensus price target of $95.00.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the sale, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

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.