Sivia Capital Partners LLC Grows Stake in Medtronic plc (NYSE:MDT)

Sivia Capital Partners LLC grew its stake in shares of Medtronic plc (NYSE:MDT) by 49.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,504 shares of the medical technology company’s stock after acquiring an additional 1,161 shares during the quarter. Sivia Capital Partners LLC’s holdings in Medtronic were worth $280,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Federated Hermes Inc. boosted its holdings in shares of Medtronic by 5.7% during the 2nd quarter. Federated Hermes Inc. now owns 195,324 shares of the medical technology company’s stock valued at $15,374,000 after acquiring an additional 10,586 shares during the last quarter. Thoroughbred Financial Services LLC grew its position in Medtronic by 15.4% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 5,357 shares of the medical technology company’s stock worth $421,000 after purchasing an additional 714 shares during the period. Diversify Wealth Management LLC purchased a new stake in Medtronic during the 2nd quarter valued at $2,420,000. Wilkins Investment Counsel Inc. boosted its stake in shares of Medtronic by 2.9% in the 2nd quarter. Wilkins Investment Counsel Inc. now owns 201,543 shares of the medical technology company’s stock worth $15,863,000 after buying an additional 5,740 shares during the last quarter. Finally, Hanson & Doremus Investment Management grew its holdings in shares of Medtronic by 3.4% in the second quarter. Hanson & Doremus Investment Management now owns 47,613 shares of the medical technology company’s stock worth $3,748,000 after acquiring an additional 1,549 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the business’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 value of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares of the company’s stock, valued at $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

Medtronic Price Performance

MDT stock traded up $1.02 during mid-day trading on Monday, hitting $81.68. The company had a trading volume of 3,786,669 shares, compared to its average volume of 6,865,209. The company has a market capitalization of $104.74 billion, a price-to-earnings ratio of 24.98, a P/E/G ratio of 2.33 and a beta of 0.83. The company has a 50-day moving average price of $83.99 and a 200 day moving average price of $84.95. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $92.68.

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 the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter last year, the business posted $1.25 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, research analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

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

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of research reports. Citigroup raised their price objective on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Sanford C. Bernstein boosted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Robert W. Baird decreased their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. decreased their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $95.00.

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.