Blue Barn Wealth LLC Cuts Stock Position in Medtronic plc (NYSE:MDT)

Blue Barn Wealth LLC decreased its position in shares of Medtronic plc (NYSE:MDT) by 15.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,854 shares of the medical technology company’s stock after selling 528 shares during the period. Blue Barn Wealth LLC’s holdings in Medtronic were worth $228,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Carmel Capital Partners LLC increased its position in shares of Medtronic by 12.6% during the fourth quarter. Carmel Capital Partners LLC now owns 3,570 shares of the medical technology company’s stock worth $285,000 after purchasing an additional 400 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Medtronic during the 4th quarter worth $852,732,000. Arizona State Retirement System increased its position in Medtronic by 0.8% during the 4th quarter. Arizona State Retirement System now owns 370,464 shares of the medical technology company’s stock valued at $29,593,000 after buying an additional 2,805 shares in the last quarter. Verdence Capital Advisors LLC raised its stake in Medtronic by 16.5% in the fourth quarter. Verdence Capital Advisors LLC now owns 11,223 shares of the medical technology company’s stock valued at $897,000 after buying an additional 1,592 shares during the last quarter. Finally, Sound Financial Strategies Group LLC boosted its holdings in Medtronic by 15.1% in the fourth quarter. Sound Financial Strategies Group LLC now owns 10,367 shares of the medical technology company’s stock worth $828,000 after acquiring an additional 1,360 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the sale, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

MDT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. UBS Group upped their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $92.00 to $107.00 in a report on Tuesday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $96.07.

Medtronic Price Performance

NYSE:MDT opened at $94.15 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The company has a 50 day moving average price of $87.82 and a 200-day moving average price of $87.68. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $95.57. The firm has a market cap of $120.75 billion, a price-to-earnings ratio of 28.62, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.33 billion. Equities research analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

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.