Medtronic plc (NYSE:MDT) Holdings Lifted by Bar Harbor Wealth Management

Bar Harbor Wealth Management increased its holdings in Medtronic plc (NYSE:MDT) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,640 shares of the medical technology company’s stock after acquiring an additional 4,894 shares during the period. Bar Harbor Wealth Management’s holdings in Medtronic were worth $10,915,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Fortitude Family Office LLC purchased a new position in Medtronic during the third quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic during the 3rd quarter valued at $27,000. Darwin Wealth Management LLC purchased a new position in shares of Medtronic during the 3rd quarter valued at $27,000. J. Stern & Co. LLP acquired a new position in shares of Medtronic in the third quarter worth $30,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Medtronic in the fourth quarter worth $40,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the sale, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on MDT. JPMorgan Chase & Co. lowered their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Barclays boosted their price target on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. 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. Truist Financial decreased their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Finally, Sanford C. Bernstein raised their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Medtronic has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Stock Performance

Shares of NYSE MDT traded up $1.02 during trading hours on Monday, reaching $81.68. The stock had a trading volume of 4,584,132 shares, compared to its average volume of 6,891,083. 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 business’s fifty day moving average is $83.99 and its two-hundred day moving average is $84.95. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68. The company has a market cap of $104.74 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 2.33 and a beta of 0.83.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion during the quarter, compared to analyst estimates 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 period last year, the company posted $1.25 earnings per share. As a group, research analysts expect that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

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

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.