Talbot Financial LLC Grows Stock Holdings in Medtronic plc (NYSE:MDT)

Talbot Financial LLC boosted its position in Medtronic plc (NYSE:MDT) by 6.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 133,453 shares of the medical technology company’s stock after acquiring an additional 8,031 shares during the period. Talbot Financial LLC’s holdings in Medtronic were worth $10,660,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MDT. Fortitude Family Office LLC purchased a new stake in shares of Medtronic during the 3rd quarter valued at $27,000. Darwin Wealth Management LLC purchased a new stake in Medtronic during the 3rd quarter worth $27,000. Highline Wealth Partners LLC acquired a new position in Medtronic in the 3rd quarter worth $27,000. J. Stern & Co. LLP acquired a new stake in shares of Medtronic in the 3rd quarter valued at about $30,000. Finally, Chelsea Counsel Co. acquired a new stake in shares of Medtronic in the 3rd quarter valued at about $45,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Trading Up 1.1 %

Shares of NYSE:MDT traded up $0.88 during mid-day trading on Monday, hitting $81.54. The stock had a trading volume of 2,843,749 shares, compared to its average volume of 6,725,093. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The company has a market cap of $104.56 billion, a PE ratio of 24.94, a P/E/G ratio of 2.33 and a beta of 0.83. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $92.68. The company’s 50 day moving average is $83.99 and its 200-day moving average is $84.95.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 EPS. On average, sell-side analysts predict that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.43%. Medtronic’s payout ratio is 85.63%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Robert W. Baird lowered their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Truist Financial decreased their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Citigroup increased their price objective on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $95.00.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the transaction, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by company 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.