Medtronic plc (NYSE:MDT) Shares Acquired by Benedict Financial Advisors Inc.

Benedict Financial Advisors Inc. raised its stake in Medtronic plc (NYSE:MDT) by 0.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 73,757 shares of the medical technology company’s stock after buying an additional 243 shares during the quarter. Medtronic makes up about 1.4% of Benedict Financial Advisors Inc.’s investment portfolio, making the stock its 20th largest holding. Benedict Financial Advisors Inc.’s holdings in Medtronic were worth $5,892,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Clear Harbor Asset Management LLC boosted its stake in Medtronic by 1.2% during the 3rd 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 period. Guardian Wealth Management Inc. grew its holdings in Medtronic by 0.9% in the 3rd quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock worth $1,182,000 after buying an additional 115 shares in the last quarter. First City Capital Management Inc. increased its position in 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 valued at $371,000 after acquiring an additional 116 shares during the period. Hardy Reed LLC increased its position in Medtronic by 4.4% in the 3rd quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock valued at $247,000 after acquiring an additional 116 shares during the period. Finally, Precision Wealth Strategies LLC boosted its position in Medtronic by 3.3% during the 3rd quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock worth $337,000 after acquiring an additional 118 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

MDT has been the subject of several research analyst reports. Wells Fargo & Company reduced their price objective 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. Sanford C. Bernstein upped their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Robert W. Baird dropped their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Finally, Truist Financial cut their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Stock Down 0.9 %

NYSE MDT opened at $90.01 on Friday. Medtronic plc has a one year low of $75.96 and a one year high of $93.08. The stock has a 50 day moving average price of $84.85 and a 200-day moving average price of $86.38. The company has a market capitalization of $115.42 billion, a P/E ratio of 27.53, a P/E/G ratio of 2.57 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last issued 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. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the prior year, the business earned $1.25 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities 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. Shareholders 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 dividend on an annualized basis and a yield of 3.11%. Medtronic’s dividend payout ratio is presently 85.63%.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction 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 completion of the sale, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.