Woodstock Corp Has $10.23 Million Stock Position in Medtronic plc (NYSE:MDT)

Woodstock Corp lessened its position in shares of Medtronic plc (NYSE:MDT) by 3.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 128,080 shares of the medical technology company’s stock after selling 4,013 shares during the quarter. Woodstock Corp’s holdings in Medtronic were worth $10,231,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in Medtronic in the third quarter valued at approximately $27,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic in the 3rd quarter valued at $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic in the 3rd quarter valued at $27,000. J. Stern & Co. LLP acquired a new position in shares of Medtronic during the 3rd quarter valued at $30,000. Finally, Chelsea Counsel Co. bought a new position in Medtronic during the third quarter worth $45,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 2.1 %

Shares of MDT stock opened at $87.19 on Friday. 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 capitalization of $111.80 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 2.28 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 50-day simple moving average of $83.65 and a two-hundred day simple moving average of $85.01.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Medtronic’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 earnings per share. Research analysts anticipate that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s payout ratio is 85.63%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MDT. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. Barclays increased their price target on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Citigroup boosted their price objective on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Truist Financial cut their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Finally, Sanford C. Bernstein boosted their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note 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 issued a strong buy rating to the company’s stock. According to MarketBeat, Medtronic currently has a consensus rating of “Hold” and an average price target of $95.00.

Insider Buying and Selling

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