Bard Financial Services Inc. Reduces Position in Medtronic plc (NYSE:MDT)

Bard Financial Services Inc. reduced its position in Medtronic plc (NYSE:MDT) by 20.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,755 shares of the medical technology company’s stock after selling 8,000 shares during the quarter. Bard Financial Services Inc.’s holdings in Medtronic were worth $2,457,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MDT. North Star Asset Management Inc. raised its stake in Medtronic by 5.5% during the 2nd quarter. North Star Asset Management Inc. now owns 4,421 shares of the medical technology company’s stock valued at $348,000 after acquiring an additional 229 shares during the last quarter. Advisor OS LLC raised its position in Medtronic by 5.4% during the 2nd quarter. Advisor OS LLC now owns 4,406 shares of the medical technology company’s stock worth $347,000 after buying an additional 225 shares during the last quarter. Lake Street Advisors Group LLC lifted its stake in shares of Medtronic by 4.2% in the 2nd quarter. Lake Street Advisors Group LLC now owns 5,906 shares of the medical technology company’s stock worth $469,000 after acquiring an additional 236 shares during the period. Wakefield Asset Management LLLP boosted its holdings in shares of Medtronic by 4.7% in the second quarter. Wakefield Asset Management LLLP now owns 4,994 shares of the medical technology company’s stock valued at $393,000 after acquiring an additional 226 shares in the last quarter. Finally, Chicago Capital LLC purchased a new position in Medtronic during the second quarter worth about $201,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Down 0.2 %

Shares of NYSE:MDT traded down $0.17 during midday trading on Monday, reaching $80.78. The company’s stock had a trading volume of 3,267,452 shares, compared to its average volume of 4,661,617. The firm has a market cap of $103.58 billion, a price-to-earnings ratio of 24.70, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83. The business has a 50 day moving average price of $84.89 and a 200 day moving average price of $84.93. Medtronic plc has a 1 year low of $75.96 and a 1 year 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.

Medtronic (NYSE:MDT) last announced its quarterly earnings data 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. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period in the prior year, the firm posted $1.25 EPS. The company’s revenue was up 5.2% on a year-over-year basis. Research analysts forecast that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.47%. Medtronic’s dividend payout ratio is presently 85.63%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Citigroup boosted their target price on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Truist Financial reduced their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Wells Fargo & Company decreased their price objective 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. Finally, JPMorgan Chase & Co. decreased their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. One equities 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 issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.