St. Clair Advisors LLC Makes New Investment in Medtronic plc (NYSE:MDT)

St. Clair Advisors LLC bought a new position in shares of Medtronic plc (NYSE:MDT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,162 shares of the medical technology company’s stock, valued at approximately $892,000.

Other institutional investors have also recently made changes to their positions in the company. MONECO Advisors LLC boosted its position in Medtronic by 1.8% during the fourth quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company’s stock worth $512,000 after acquiring an additional 115 shares during the last quarter. OLD Second National Bank of Aurora raised its stake in shares of Medtronic by 0.3% in the 4th quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company’s stock valued at $2,900,000 after acquiring an additional 121 shares during the period. McKinley Carter Wealth Services Inc. raised its stake in shares of Medtronic by 0.7% in the 4th quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company’s stock valued at $1,572,000 after acquiring an additional 129 shares during the period. Faithward Advisors LLC increased its stake in Medtronic by 2.7% during the 4th quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company’s stock worth $403,000 after buying an additional 134 shares during the period. Finally, Vestor Capital LLC increased its stake in Medtronic by 0.3% during the 4th quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company’s stock worth $4,104,000 after buying an additional 138 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Medtronic stock opened at $86.41 on Monday. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The business’s 50-day moving average price is $85.93 and its two-hundred day moving average price is $86.60. The stock has a market cap of $110.83 billion, a PE ratio of 26.27, a P/E/G ratio of 2.22 and a beta of 0.81.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. As a group, analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.24%. Medtronic’s dividend payout ratio (DPR) is 85.11%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MDT. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and raised their target price for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. UBS Group raised their price target on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. Finally, Truist Financial lowered their target price on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Medtronic has an average rating of “Hold” and a consensus price target of $96.14.

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.