Flagship Harbor Advisors LLC Has $846,000 Stock Holdings in Medtronic plc (NYSE:MDT)

Flagship Harbor Advisors LLC raised its holdings in Medtronic plc (NYSE:MDT) by 33.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,594 shares of the medical technology company’s stock after acquiring an additional 2,638 shares during the period. Flagship Harbor Advisors LLC’s holdings in Medtronic were worth $846,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

MDT has been the subject of a number of analyst reports. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Evercore ISI lifted their price objective on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Truist Financial lowered their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. JPMorgan Chase & Co. cut their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Finally, Wells Fargo & Company decreased their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $95.00.

Insider Buying and Selling

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 value of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by insiders.

Medtronic Price Performance

Shares of MDT stock opened at $92.45 on Tuesday. The firm has a market cap of $118.54 billion, a price-to-earnings ratio of 28.27, a PEG 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 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 50-day moving average price of $83.75 and a 200 day moving average price of $85.62.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share 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 during the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the firm posted $1.25 earnings per share. Medtronic’s revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts expect that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.03%. Medtronic’s dividend payout ratio is currently 85.63%.

Medtronic 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.