Medtronic plc (NYSE:MDT) Stock Holdings Increased by Curbstone Financial Management Corp

Curbstone Financial Management Corp raised its holdings in shares of Medtronic plc (NYSE:MDT) by 10.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,044 shares of the medical technology company’s stock after purchasing an additional 458 shares during the quarter. Curbstone Financial Management Corp’s holdings in Medtronic were worth $403,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Scientech Research LLC purchased a new stake in shares of Medtronic during the second quarter valued at $522,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Medtronic in the second quarter worth about $4,745,000. Creative Planning increased its position in shares of Medtronic by 6.6% in the second quarter. Creative Planning now owns 247,061 shares of the medical technology company’s stock worth $19,446,000 after acquiring an additional 15,305 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Medtronic by 7.1% during the second quarter. NewEdge Advisors LLC now owns 122,880 shares of the medical technology company’s stock valued at $9,672,000 after acquiring an additional 8,127 shares during the period. Finally, Wellington Wealth Strategies LLC. purchased a new stake in shares of Medtronic in the 2nd quarter valued at approximately $257,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of NYSE:MDT opened at $92.45 on Tuesday. The stock has a market capitalization of $118.54 billion, a P/E ratio of 28.27, 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 two-hundred day moving average of $85.62. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. 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 announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. On average, equities research analysts predict that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.03%. Medtronic’s payout ratio is presently 85.63%.

Insider Buying and Selling

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 owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Sanford C. Bernstein lifted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Truist Financial dropped their price target on 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 reiterated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Wells Fargo & Company decreased their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, Barclays upped their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $95.00.

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.