Butensky & Cohen Financial Security Inc. Increases Position in Medtronic plc (NYSE:MDT)

Butensky & Cohen Financial Security Inc. lifted its holdings in shares of Medtronic plc (NYSE:MDT) by 5.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,479 shares of the medical technology company’s stock after acquiring an additional 2,750 shares during the quarter. Butensky & Cohen Financial Security Inc.’s holdings in Medtronic were worth $4,192,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Relyea Zuckerberg Hanson LLC grew its position in shares of Medtronic by 13.5% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 3,124 shares of the medical technology company’s stock valued at $250,000 after acquiring an additional 372 shares during the period. Saxon Interests Inc. grew its holdings in Medtronic by 9.1% during the fourth quarter. Saxon Interests Inc. now owns 12,923 shares of the medical technology company’s stock valued at $1,032,000 after purchasing an additional 1,075 shares during the period. Procyon Advisors LLC increased its position in Medtronic by 17.0% in the fourth quarter. Procyon Advisors LLC now owns 19,197 shares of the medical technology company’s stock worth $1,533,000 after buying an additional 2,795 shares during the last quarter. Everpar Advisors LLC increased its position in Medtronic by 3.7% in the fourth quarter. Everpar Advisors LLC now owns 6,427 shares of the medical technology company’s stock worth $513,000 after buying an additional 228 shares during the last quarter. Finally, Empirical Asset Management LLC bought a new stake in shares of Medtronic in the fourth quarter valued at $1,540,000. 82.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 9,850 shares of Medtronic 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 $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is owned by insiders.

Medtronic Trading Up 1.2 %

Shares of MDT stock opened at $88.23 on Friday. The business has a 50-day moving average price of $83.63 and a two-hundred day moving average price of $85.03. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $92.68. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The firm has a market cap of $113.13 billion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 2.28 and a beta of 0.83.

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

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is 85.63%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MDT. Wells Fargo & Company decreased their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Evercore ISI boosted their price target on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Truist Financial reduced their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and an average target price 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.