By otakuyassine3@gmail.com 
Petredis Investment Advisors LLC decreased its holdings in Medtronic plc (NYSE:MDT – Free Report) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,166 shares of the medical technology company’s stock after selling 768 shares during the quarter. Petredis Investment Advisors LLC’s holdings in Medtronic were worth $2,090,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Fortitude Family Office LLC acquired a new position in shares of Medtronic in the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic in the third quarter worth $27,000. Darwin Wealth Management LLC acquired a new stake in Medtronic in the third quarter valued at $27,000. J. Stern & Co. LLP bought a new position in Medtronic during the 3rd quarter valued at $30,000. Finally, Kieckhefer Group LLC acquired a new position in Medtronic during the 4th quarter worth $40,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.
Medtronic Stock Up 0.9 %
Medtronic stock opened at $90.07 on Friday. The company’s 50-day moving average price is $83.70 and its two-hundred day moving average price is $85.41. The stock has a market cap of $115.49 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 2.49 and a beta of 0.83. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51.
Medtronic (NYSE:MDT – Get Free Report) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.25 earnings per share. On average, analysts expect that Medtronic plc will post 5.45 EPS for the current fiscal year.
Medtronic Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid 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 is currently 85.63%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on MDT shares. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note 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 research report on Tuesday, November 26th. Evercore ISI raised their target price on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Truist Financial lowered 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. Finally, Robert W. Baird reduced their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $95.00.
Check Out Our Latest Analysis on Medtronic
Insider Buying and Selling
In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by corporate 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.
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