Stablepoint Partners LLC Has $5.25 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Stablepoint Partners LLC boosted its holdings in shares of Medtronic plc (NYSE:MDT) by 1.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 65,689 shares of the medical technology company’s stock after buying an additional 898 shares during the period. Medtronic makes up approximately 1.0% of Stablepoint Partners LLC’s investment portfolio, making the stock its 29th largest position. Stablepoint Partners LLC’s holdings in Medtronic were worth $5,247,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Regatta Capital Group LLC increased its holdings in shares of Medtronic by 3.5% in the 4th quarter. Regatta Capital Group LLC now owns 21,064 shares of the medical technology company’s stock valued at $1,683,000 after purchasing an additional 709 shares during the period. KFG Wealth Management LLC increased its stake in Medtronic by 5.5% in the 4th quarter. KFG Wealth Management LLC now owns 2,725 shares of the medical technology company’s stock valued at $218,000 after buying an additional 141 shares during the period. Affiance Financial LLC lifted its position in Medtronic by 22.1% in the 4th quarter. Affiance Financial LLC now owns 3,873 shares of the medical technology company’s stock worth $309,000 after buying an additional 700 shares in the last quarter. Olstein Capital Management L.P. boosted its stake in shares of Medtronic by 8.0% during the 4th quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company’s stock valued at $7,509,000 after buying an additional 7,000 shares during the period. Finally, Flagship Harbor Advisors LLC grew its holdings in shares of Medtronic by 33.2% during the 4th quarter. Flagship Harbor Advisors LLC now owns 10,594 shares of the medical technology company’s stock valued at $846,000 after acquiring an additional 2,638 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Up 0.9 %

MDT opened at $90.07 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 $115.49 billion, a price-to-earnings ratio of 27.54, a P/E/G ratio of 2.49 and a beta of 0.83. The business has a 50 day moving average of $83.75 and a 200-day moving average of $85.50. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $92.68.

Medtronic (NYSE:MDT) last released its 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 net margin of 13.00% and a return on equity of 13.79%. 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 company earned $1.25 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently disclosed 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. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is presently 85.63%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Truist Financial cut their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Barclays lifted their price target on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Evercore ISI raised their price objective on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Wells Fargo & Company decreased their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Finally, Robert W. Baird reduced their price objective 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $95.00.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the company’s 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 $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate 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.