Medtronic plc (NYSE:MDT) Position Lifted by Capital Advisors Inc. OK

Capital Advisors Inc. OK raised its stake in shares of Medtronic plc (NYSE:MDT) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 332,273 shares of the medical technology company’s stock after acquiring an additional 16,242 shares during the quarter. Capital Advisors Inc. OK’s holdings in Medtronic were worth $26,542,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in MDT. Fortitude Family Office LLC bought a new position in Medtronic during the 3rd quarter valued at $27,000. Highline Wealth Partners LLC bought a new position in shares of Medtronic in the 3rd quarter worth about $27,000. Darwin Wealth Management LLC bought a new position in shares of Medtronic in the 3rd quarter worth about $27,000. Stephens Consulting LLC lifted 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 buying an additional 204 shares during the last quarter. Finally, J. Stern & Co. LLP bought a new position in shares of Medtronic in the 3rd quarter worth about $30,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Up 0.4 %

NYSE MDT opened at $91.18 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The company’s 50 day simple moving average is $84.93 and its 200 day simple moving average is $86.56. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08. The company has a market capitalization of $116.92 billion, a P/E ratio of 27.88, a PEG ratio of 2.57 and a beta of 0.84.

Medtronic (NYSE:MDT) last released 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. 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 quarter in the previous year, the business earned $1.25 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. Equities research analysts expect that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed 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. This represents a $2.80 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is presently 85.63%.

Analysts Set New Price Targets

MDT has been the topic of a number of recent research reports. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. 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. Robert W. Baird cut their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Wells Fargo & Company cut their price objective 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. Finally, JPMorgan Chase & Co. cut their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and an average target price of $95.00.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

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.