Godsey & Gibb Inc. Buys 4,725 Shares of Medtronic plc (NYSE:MDT)

Godsey & Gibb Inc. raised its stake in Medtronic plc (NYSE:MDT) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 233,086 shares of the medical technology company’s stock after purchasing an additional 4,725 shares during the quarter. Godsey & Gibb Inc.’s holdings in Medtronic were worth $18,619,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fortitude Family Office LLC bought a new position in shares of Medtronic in the third quarter valued at $27,000. Highline Wealth Partners LLC acquired a new stake in Medtronic in the third quarter valued at $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 shares of Medtronic in the 3rd quarter valued at about $30,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Medtronic during the 4th quarter worth about $40,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MDT. Robert W. Baird cut their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Barclays raised their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Truist Financial reduced their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Evercore ISI increased their price target on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. cut their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Price Performance

Shares of Medtronic stock opened at $85.33 on Thursday. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $109.42 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68. The company has a 50-day simple moving average of $83.74 and a two-hundred day simple moving average of $85.01.

Medtronic (NYSE:MDT) last released its quarterly 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 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 period in the previous year, the business earned $1.25 earnings per share. Analysts forecast that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.70 per share. 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 3.28%. Medtronic’s payout ratio is 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.