Benedict Financial Advisors Inc. Raises Position in Medtronic plc (NYSE:MDT)

Benedict Financial Advisors Inc. lifted its holdings in shares of Medtronic plc (NYSE:MDT) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,757 shares of the medical technology company’s stock after purchasing an additional 243 shares during the quarter. Medtronic accounts for approximately 1.4% of Benedict Financial Advisors Inc.’s portfolio, making the stock its 20th largest position. Benedict Financial Advisors Inc.’s holdings in Medtronic were worth $5,892,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC purchased a new stake in Medtronic in the third quarter worth approximately $27,000. Darwin Wealth Management LLC bought a new position in Medtronic during the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC purchased a new position in Medtronic during the 3rd quarter valued at $27,000. J. Stern & Co. LLP purchased a new position in shares of Medtronic during the third quarter valued at about $30,000. Finally, Stephens Consulting LLC raised its position 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 worth $27,000 after acquiring an additional 204 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Performance

NYSE:MDT opened at $90.01 on Friday. The company has a market cap 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. 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 company has a fifty day simple moving average of $84.85 and a two-hundred day simple moving average of $86.38.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The company 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%. Medtronic’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 EPS. As a group, equities analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Truist Financial cut 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. 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 research report on Wednesday, November 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Robert W. Baird decreased their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. Finally, Barclays lifted their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, nine have assigned 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, the company presently has an average rating of “Hold” and a consensus price target of $95.00.

Insider Buying and Selling 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. 0.20% of the stock is currently owned by insiders.

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.