Keystone Financial Services Grows Stake in Medtronic plc (NYSE:MDT)

Keystone Financial Services boosted its stake in Medtronic plc (NYSE:MDT) by 8.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,630 shares of the medical technology company’s stock after buying an additional 494 shares during the quarter. Keystone Financial Services’ holdings in Medtronic were worth $530,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Good Life Advisors LLC raised its stake in Medtronic by 7.7% in the 3rd quarter. Good Life Advisors LLC now owns 3,870 shares of the medical technology company’s stock valued at $348,000 after purchasing an additional 276 shares during the last quarter. Stratos Wealth Advisors LLC grew its holdings in shares of Medtronic by 58.2% during the third quarter. Stratos Wealth Advisors LLC now owns 12,406 shares of the medical technology company’s stock worth $1,117,000 after buying an additional 4,565 shares in the last quarter. Net Worth Advisory Group acquired a new stake in shares of Medtronic in the third quarter valued at about $671,000. KMG Fiduciary Partners LLC lifted its stake in shares of Medtronic by 4.1% in the third quarter. KMG Fiduciary Partners LLC now owns 18,609 shares of the medical technology company’s stock worth $1,675,000 after buying an additional 741 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in Medtronic by 30.6% during the third quarter. Blue Trust Inc. now owns 12,716 shares of the medical technology company’s stock worth $1,145,000 after acquiring an additional 2,979 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of research reports. Robert W. Baird decreased their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. Truist Financial reduced their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Sanford C. Bernstein upped their target price on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Barclays lifted their price target on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $95.00.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the firm’s stock in a transaction 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 in the company, valued at $3,273,330.28. This trade 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 at this hyperlink. 0.20% of the stock is owned by corporate insiders.

Medtronic Price Performance

Medtronic stock opened at $93.02 on Monday. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $93.08. 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. The company’s 50 day moving average is $85.51 and its two-hundred day moving average is $86.86.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same period last year, the firm earned $1.25 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, research analysts expect that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

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 dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.01%. Medtronic’s payout ratio is 85.63%.

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.