Stack Financial Management Inc Boosts Stock Position in Medtronic PLC (NYSE:MDT)

Stack Financial Management Inc increased its stake in shares of Medtronic PLC (NYSE:MDT) by 0.2% in the fourth quarter, HoldingsChannel reports. The firm owned 96,832 shares of the medical technology company’s stock after buying an additional 200 shares during the quarter. Stack Financial Management Inc’s holdings in Medtronic were worth $10,986,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MDT. G&S Capital LLC grew its holdings in Medtronic by 21.7% in the 4th quarter. G&S Capital LLC now owns 538 shares of the medical technology company’s stock valued at $61,000 after buying an additional 96 shares during the period. Nachman Norwood & Parrott Inc grew its holdings in Medtronic by 1.9% in the 3rd quarter. Nachman Norwood & Parrott Inc now owns 5,400 shares of the medical technology company’s stock valued at $587,000 after buying an additional 99 shares during the period. Doliver Advisors LP grew its holdings in Medtronic by 2.2% in the 3rd quarter. Doliver Advisors LP now owns 4,705 shares of the medical technology company’s stock valued at $509,000 after buying an additional 100 shares during the period. Affiance Financial LLC grew its holdings in Medtronic by 1.3% in the 3rd quarter. Affiance Financial LLC now owns 8,074 shares of the medical technology company’s stock valued at $877,000 after buying an additional 102 shares during the period. Finally, Liberty Wealth Management LLC grew its holdings in Medtronic by 9.5% in the 3rd quarter. Liberty Wealth Management LLC now owns 1,187 shares of the medical technology company’s stock valued at $129,000 after buying an additional 103 shares during the period. Hedge funds and other institutional investors own 80.61% of the company’s stock.

In other news, EVP Michael J. Coyle sold 2,102 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $109.77, for a total value of $230,736.54. Following the completion of the sale, the executive vice president now directly owns 189,162 shares in the company, valued at approximately $20,764,312.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert John White sold 52,166 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $110.62, for a total value of $5,770,602.92. Following the completion of the sale, the executive vice president now owns 77,510 shares of the company’s stock, valued at $8,574,156.20. The disclosure for this sale can be found here. Insiders sold a total of 106,433 shares of company stock valued at $11,704,539 over the last quarter. Company insiders own 0.28% of the company’s stock.

Shares of MDT traded down $1.61 during trading on Friday, reaching $119.37. The company’s stock had a trading volume of 1,546,156 shares, compared to its average volume of 3,500,076. The company has a fifty day moving average of $115.12 and a two-hundred day moving average of $108.53. Medtronic PLC has a twelve month low of $82.77 and a twelve month high of $122.15. The company has a market cap of $162.31 billion, a price-to-earnings ratio of 34.50, a P/E/G ratio of 2.94 and a beta of 0.60. The company has a quick ratio of 2.28, a current ratio of 2.77 and a debt-to-equity ratio of 0.49.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.03. Medtronic had a return on equity of 14.52% and a net margin of 15.11%. The company had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.66 billion. During the same period in the prior year, the company posted $1.22 EPS. Medtronic’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, equities analysts forecast that Medtronic PLC will post 5.6 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, December 27th were issued a $0.54 dividend. The ex-dividend date was Thursday, December 26th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.81%. Medtronic’s dividend payout ratio (DPR) is 41.38%.

Several analysts have commented on MDT shares. JPMorgan Chase & Co. lifted their price target on Medtronic from $122.00 to $128.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Royal Bank of Canada lifted their price objective on Medtronic from $118.00 to $122.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Guggenheim raised Medtronic from a “neutral” rating to a “buy” rating and set a $135.00 price objective on the stock in a research note on Thursday, January 2nd. They noted that the move was a valuation call. Piper Jaffray Companies boosted their price target on Medtronic to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Finally, Piper Sandler boosted their price target on Medtronic from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $120.59.

Medtronic Profile

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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