Angeles Wealth Management LLC Buys 822 Shares of Medtronic plc (NYSE:MDT)

Angeles Wealth Management LLC lifted its stake in shares of Medtronic plc (NYSE:MDT) by 36.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,085 shares of the medical technology company’s stock after purchasing an additional 822 shares during the quarter. Angeles Wealth Management LLC’s holdings in Medtronic were worth $246,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. HTLF Bank boosted its position in Medtronic by 0.3% in the fourth quarter. HTLF Bank now owns 59,009 shares of the medical technology company’s stock valued at $4,714,000 after buying an additional 173 shares in the last quarter. Tevis Investment Management lifted its stake in shares of Medtronic by 1.3% in the 4th quarter. Tevis Investment Management now owns 42,304 shares of the medical technology company’s stock valued at $3,409,000 after acquiring an additional 556 shares during the last quarter. Kestra Private Wealth Services LLC boosted its holdings in shares of Medtronic by 6.1% during the 4th quarter. Kestra Private Wealth Services LLC now owns 103,281 shares of the medical technology company’s stock valued at $8,250,000 after acquiring an additional 5,942 shares in the last quarter. Stockman Wealth Management Inc. grew its position in Medtronic by 4.5% during the 4th quarter. Stockman Wealth Management Inc. now owns 106,005 shares of the medical technology company’s stock worth $8,468,000 after acquiring an additional 4,542 shares during the last quarter. Finally, Robinson Value Management Ltd. increased its holdings in Medtronic by 1.2% in the 4th quarter. Robinson Value Management Ltd. now owns 54,708 shares of the medical technology company’s stock worth $4,370,000 after purchasing an additional 657 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the transaction, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Medtronic Trading Up 0.9 %

Shares of MDT stock opened at $90.84 on Tuesday. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $93.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The stock has a 50 day simple moving average of $84.85 and a two-hundred day simple moving average of $86.48. The company has a market cap of $116.48 billion, a P/E ratio of 27.78, a PEG ratio of 2.57 and a beta of 0.84.

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

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.08%. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MDT shares. Truist Financial cut their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Wells Fargo & Company decreased 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. JPMorgan Chase & Co. cut 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. Finally, Robert W. Baird decreased their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. One 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’s stock. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and an average target price of $95.00.

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.