Brightwater Advisory LLC Has $259,000 Stake in Medtronic plc (NYSE:MDT)

Brightwater Advisory LLC raised its holdings in Medtronic plc (NYSE:MDT) by 403.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,241 shares of the medical technology company’s stock after buying an additional 2,597 shares during the period. Brightwater Advisory LLC’s holdings in Medtronic were worth $259,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new stake in shares of Medtronic during the 3rd quarter worth approximately $27,000. Darwin Wealth Management LLC bought a new stake in Medtronic in the third quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic in the third quarter valued at approximately $27,000. J. Stern & Co. LLP bought a new position in shares of Medtronic during the 3rd quarter worth approximately $30,000. Finally, Stephens Consulting LLC increased its holdings in shares of Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 204 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on MDT shares. Barclays upped their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. 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 research note on Friday, November 15th. Wells Fargo & Company lowered their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. UBS Group increased their target price on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Finally, Truist Financial dropped their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $95.00.

Medtronic Stock Performance

NYSE:MDT opened at $90.57 on Wednesday. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $93.08. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The stock’s 50-day simple moving average is $86.44 and its 200 day simple moving average is $87.30. The firm has a market capitalization of $116.13 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. On average, analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders 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 annualized dividend and a dividend yield of 3.09%. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the sale, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

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.