Buckingham Capital Management Inc. Increases Stake in Medtronic plc (NYSE:MDT)

Buckingham Capital Management Inc. increased its holdings in Medtronic plc (NYSE:MDT) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,701 shares of the medical technology company’s stock after acquiring an additional 203 shares during the quarter. Buckingham Capital Management Inc.’s holdings in Medtronic were worth $1,334,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clear Harbor Asset Management LLC grew its stake in Medtronic by 1.2% in the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after purchasing an additional 111 shares during the last quarter. Guardian Wealth Management Inc. boosted its holdings in shares of Medtronic by 0.9% in the 3rd quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock valued at $1,182,000 after buying an additional 115 shares in the last quarter. First City Capital Management Inc. grew its position in shares of Medtronic by 2.9% in the 3rd quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock worth $371,000 after buying an additional 116 shares during the last quarter. Hardy Reed LLC raised its stake in shares of Medtronic by 4.4% during the 3rd quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock worth $247,000 after acquiring an additional 116 shares in the last quarter. Finally, Precision Wealth Strategies LLC lifted its position in Medtronic by 3.3% during the third quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock valued at $337,000 after acquiring an additional 118 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of the company’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 sale, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at $3,688,110. This represents a 23.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on MDT. JPMorgan Chase & Co. decreased their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Sanford C. Bernstein increased their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Truist Financial dropped their target price 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Wednesday, February 12th. Finally, Barclays boosted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. One equities 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 assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $95.00.

Medtronic Trading Up 0.9 %

Shares of MDT stock opened at $93.02 on Tuesday. The company has a 50-day moving average of $85.51 and a two-hundred day moving average of $86.90. The firm has a market cap of $119.28 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $93.08. 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 (NYSE:MDT) last posted 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 firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter last year, the firm earned $1.25 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, analysts predict that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.01%. Medtronic’s dividend payout ratio is presently 85.63%.

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.