Medtronic plc (NYSE:MDT) Holdings Raised by Catalyst Financial Partners LLC

Catalyst Financial Partners LLC grew its position in Medtronic plc (NYSE:MDT) by 11.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,664 shares of the medical technology company’s stock after buying an additional 491 shares during the period. Catalyst Financial Partners LLC’s holdings in Medtronic were worth $373,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Asset Management One Co. Ltd. boosted its position in Medtronic by 7.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 537,902 shares of the medical technology company’s stock valued at $43,430,000 after purchasing an additional 36,618 shares during the period. Avestar Capital LLC boosted its position in Medtronic by 15.9% during the 4th quarter. Avestar Capital LLC now owns 5,928 shares of the medical technology company’s stock valued at $474,000 after purchasing an additional 815 shares during the period. Sawgrass Asset Management LLC boosted its position in Medtronic by 27.3% during the 4th quarter. Sawgrass Asset Management LLC now owns 14,851 shares of the medical technology company’s stock valued at $1,186,000 after purchasing an additional 3,184 shares during the period. Two Point Capital Management Inc. boosted its position in Medtronic by 0.5% during the 4th quarter. Two Point Capital Management Inc. now owns 92,159 shares of the medical technology company’s stock valued at $8,145,000 after purchasing an additional 437 shares during the period. Finally, Van ECK Associates Corp boosted its position in Medtronic by 2,043.4% during the 4th quarter. Van ECK Associates Corp now owns 2,598,150 shares of the medical technology company’s stock valued at $207,540,000 after purchasing an additional 2,476,935 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MDT shares. JPMorgan Chase & Co. reduced their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Truist Financial reduced their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Barclays boosted their price target on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Robert W. Baird reduced their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Finally, Wells Fargo & Company reduced their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. One investment 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $95.00.

Medtronic Stock Performance

Medtronic stock opened at $93.02 on Friday. The firm’s 50 day simple moving average is $85.33 and its 200-day simple moving average is $86.72. The company has a market cap of $119.28 billion, a P/E ratio of 28.45, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $93.08.

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

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) 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.