DT Investment Partners LLC Increases Stock Position in Medtronic plc (NYSE:MDT)

DT Investment Partners LLC increased its position in Medtronic plc (NYSE:MDT) by 2.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 13,502 shares of the medical technology company’s stock after buying an additional 375 shares during the quarter. DT Investment Partners LLC’s holdings in Medtronic were worth $1,079,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in MDT. Compagnie Lombard Odier SCmA boosted its stake in Medtronic by 30.9% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 105,660 shares of the medical technology company’s stock valued at $8,440,000 after acquiring an additional 24,914 shares during the last quarter. Catalyst Financial Partners LLC boosted its stake in Medtronic by 11.8% during the 4th quarter. Catalyst Financial Partners LLC now owns 4,664 shares of the medical technology company’s stock valued at $373,000 after acquiring an additional 491 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in Medtronic by 7.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 537,902 shares of the medical technology company’s stock valued at $43,430,000 after acquiring an additional 36,618 shares during the last quarter. Avestar Capital LLC boosted its stake in Medtronic by 15.9% during the 4th quarter. Avestar Capital LLC now owns 5,928 shares of the medical technology company’s stock valued at $474,000 after acquiring an additional 815 shares during the last quarter. Finally, Sawgrass Asset Management LLC boosted its stake in Medtronic by 27.3% during the 4th quarter. Sawgrass Asset Management LLC now owns 14,851 shares of the medical technology company’s stock valued at $1,186,000 after acquiring an additional 3,184 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Up 1.0 %

Medtronic stock opened at $92.27 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. The firm has a 50-day moving average price of $85.16 and a two-hundred day moving average price of $86.68. The firm has a market capitalization of $118.32 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 2.57 and a beta of 0.84. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $93.08.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping 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 company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the firm earned $1.25 EPS. Medtronic’s revenue was up 5.2% on a year-over-year basis. Sell-side analysts expect that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.03%. Medtronic’s dividend payout ratio (DPR) is 85.63%.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

MDT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective 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 reduced their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Truist Financial reduced their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Sanford C. Bernstein raised their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Finally, Barclays raised their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and an average price target 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.