Stephens Consulting LLC Purchases 204 Shares of Medtronic plc (NYSE:MDT)

Stephens Consulting LLC grew its position in Medtronic plc (NYSE:MDT) by 145.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 344 shares of the medical technology company’s stock after acquiring an additional 204 shares during the quarter. Stephens Consulting LLC’s holdings in Medtronic were worth $27,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of MDT. Czech National Bank lifted its holdings in shares of Medtronic by 3.3% in the 3rd quarter. Czech National Bank now owns 261,279 shares of the medical technology company’s stock valued at $23,523,000 after acquiring an additional 8,249 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in shares of Medtronic by 3.3% in the 3rd quarter. Park Avenue Securities LLC now owns 24,993 shares of the medical technology company’s stock worth $2,250,000 after purchasing an additional 809 shares during the period. GAMMA Investing LLC increased its position in shares of Medtronic by 33.8% during the 3rd quarter. GAMMA Investing LLC now owns 13,024 shares of the medical technology company’s stock valued at $1,173,000 after purchasing an additional 3,289 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its position in Medtronic by 1.0% in the third quarter. Azzad Asset Management Inc. ADV now owns 60,356 shares of the medical technology company’s stock worth $5,434,000 after buying an additional 574 shares during the last quarter. Finally, IAM Advisory LLC purchased a new position in Medtronic during the third quarter worth $210,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MDT shares. JPMorgan Chase & Co. lowered their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Barclays boosted their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Wells Fargo & Company decreased their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Truist Financial cut their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently 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 company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total value 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 approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by insiders.

Medtronic Stock Performance

MDT opened at $90.55 on Tuesday. The firm’s 50-day moving average price is $84.38 and its 200-day moving average price is $86.09. The company has a market cap of $116.11 billion, a P/E ratio of 27.69, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. 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 plc has a 52-week low of $75.96 and a 52-week high of $93.08.

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

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.09%. Medtronic’s dividend payout ratio is currently 85.63%.

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.