Richard C. Young & CO. LTD. Raises Holdings in Medtronic plc (NYSE:MDT)

Richard C. Young & CO. LTD. lifted its stake in Medtronic plc (NYSE:MDT) by 1.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 140,621 shares of the medical technology company’s stock after purchasing an additional 1,389 shares during the quarter. Richard C. Young & CO. LTD.’s holdings in Medtronic were worth $11,233,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Wedmont Private Capital increased its position in shares of Medtronic by 10.5% in the 3rd quarter. Wedmont Private Capital now owns 4,798 shares of the medical technology company’s stock valued at $418,000 after acquiring an additional 457 shares during the period. Iowa State Bank purchased a new stake in Medtronic during the 3rd quarter valued at about $1,175,000. Juncture Wealth Strategies LLC increased its holdings in shares of Medtronic by 12.4% in the third quarter. Juncture Wealth Strategies LLC now owns 3,633 shares of the medical technology company’s stock valued at $327,000 after purchasing an additional 400 shares during the period. MADDEN SECURITIES Corp purchased a new position in shares of Medtronic in the third quarter worth about $219,000. Finally, Wynn Capital LLC lifted its holdings in shares of Medtronic by 19.5% during the third quarter. Wynn Capital LLC now owns 3,921 shares of the medical technology company’s stock worth $353,000 after purchasing an additional 640 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Price Performance

Shares of NYSE MDT opened at $90.01 on Friday. 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 firm has a market cap of $115.42 billion, a PE ratio of 27.53, a PEG ratio of 2.57 and a beta of 0.84. Medtronic plc has a one year low of $75.96 and a one year high of $93.08. The firm has a fifty day moving average of $84.85 and a 200 day moving average of $86.38.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 EPS. As a group, research analysts predict 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 given a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Analyst Upgrades and Downgrades

MDT has been the topic of several research reports. Sanford C. Bernstein increased their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Truist Financial reduced their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Barclays increased their price target on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. 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. Finally, Wells Fargo & Company dropped their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $95.00.

Insider Transactions at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the 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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.