Medtronic plc (NYSE:MDT) Shares Acquired by Visionary Horizons LLC

Visionary Horizons LLC boosted its holdings in Medtronic plc (NYSE:MDT) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,781 shares of the medical technology company’s stock after acquiring an additional 313 shares during the period. Medtronic accounts for about 0.9% of Visionary Horizons LLC’s portfolio, making the stock its 16th largest holding. Visionary Horizons LLC’s holdings in Medtronic were worth $1,340,000 at the end of the most recent quarter.

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

Insider Activity at Medtronic

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 stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the sale, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Medtronic Stock Performance

Shares of MDT opened at $90.01 on Friday. 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. The stock has a 50 day moving average price of $84.85 and a 200 day moving average price of $86.38. The company has a market capitalization of $115.42 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period last year, the firm posted $1.25 EPS. The company’s revenue was up 5.2% on a year-over-year basis. 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 issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is currently 85.63%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Barclays boosted their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. cut their target price 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 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. 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, Robert W. Baird decreased their target price 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 issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $95.00.

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.