Entropy Technologies LP Makes New Investment in Medtronic plc (NYSE:MDT)

Entropy Technologies LP bought a new position in shares of Medtronic plc (NYSE:MDT) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 63,500 shares of the medical technology company’s stock, valued at approximately $5,072,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. Empowered Funds LLC raised its holdings in shares of Medtronic by 2.7% during the 4th quarter. Empowered Funds LLC now owns 105,822 shares of the medical technology company’s stock worth $8,453,000 after acquiring an additional 2,778 shares during the period. Wilmington Savings Fund Society FSB raised its holdings in shares of Medtronic by 2.3% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 75,060 shares of the medical technology company’s stock worth $5,996,000 after acquiring an additional 1,687 shares during the period. Apollon Wealth Management LLC raised its holdings in shares of Medtronic by 0.9% during the 4th quarter. Apollon Wealth Management LLC now owns 42,213 shares of the medical technology company’s stock worth $3,372,000 after acquiring an additional 383 shares during the period. Vest Financial LLC raised its holdings in shares of Medtronic by 3.4% during the 4th quarter. Vest Financial LLC now owns 633,609 shares of the medical technology company’s stock worth $50,613,000 after acquiring an additional 20,806 shares during the period. Finally, Shepherd Financial Partners LLC raised its holdings in shares of Medtronic by 2.9% during the 4th quarter. Shepherd Financial Partners LLC now owns 5,567 shares of the medical technology company’s stock worth $445,000 after acquiring an additional 159 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on MDT. Truist Financial reduced their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Robert W. Baird reduced their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Barclays boosted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, Wells Fargo & Company reduced 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. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $95.00.

Medtronic Stock Down 0.9 %

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. The firm has a market cap of $115.42 billion, a P/E ratio of 27.53, 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. The business’s fifty day simple moving average is $84.85 and its 200 day simple moving average is $86.38.

Medtronic (NYSE:MDT) last posted its quarterly earnings data 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. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 earnings per share. As a group, equities research analysts anticipate that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.11%. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

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.