Brighton Jones LLC Has $3.19 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Brighton Jones LLC grew its stake in shares of Medtronic plc (NYSE:MDT) by 1,368.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 39,989 shares of the medical technology company’s stock after buying an additional 37,265 shares during the period. Brighton Jones LLC’s holdings in Medtronic were worth $3,194,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in MDT. Hengehold Capital Management LLC increased its position in shares of Medtronic by 1.3% during the fourth quarter. Hengehold Capital Management LLC now owns 36,469 shares of the medical technology company’s stock valued at $2,913,000 after purchasing an additional 468 shares during the period. Cerro Pacific Wealth Advisors LLC increased its holdings in Medtronic by 47.4% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 8,425 shares of the medical technology company’s stock valued at $673,000 after buying an additional 2,708 shares during the period. Apeiron RIA LLC raised its stake in shares of Medtronic by 41.1% in the 4th quarter. Apeiron RIA LLC now owns 3,724 shares of the medical technology company’s stock valued at $297,000 after buying an additional 1,084 shares in the last quarter. Secure Asset Management LLC bought a new stake in Medtronic in the fourth quarter valued at about $285,000. Finally, Red Door Wealth Management LLC increased its stake in Medtronic by 13.8% in the fourth quarter. Red Door Wealth Management LLC now owns 4,225 shares of the medical technology company’s stock valued at $337,000 after acquiring an additional 512 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 1.7 %

MDT opened at $89.30 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $114.51 billion, a P/E ratio of 27.31, a P/E/G ratio of 2.49 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 firm’s fifty day simple moving average is $83.64 and its 200 day simple moving average is $85.39.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, research analysts anticipate that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.14%. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MDT. Barclays lifted their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. 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 research note on Thursday, October 10th. Wells Fargo & Company dropped their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Robert W. Baird reduced their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. Finally, Truist Financial reduced their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $95.00.

Insiders Place Their Bets

In related news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

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.