Catalyst Capital Advisors LLC Increases Stake in Medtronic plc (NYSE:MDT)

Catalyst Capital Advisors LLC grew its position in shares of Medtronic plc (NYSE:MDT) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,325 shares of the medical technology company’s stock after buying an additional 405 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Medtronic were worth $2,342,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Fortitude Family Office LLC purchased a new position in Medtronic during the 3rd quarter worth $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic in the 3rd quarter valued at about $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic in the third quarter valued at about $27,000. Stephens Consulting LLC boosted its holdings in Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after buying an additional 204 shares in the last quarter. Finally, J. Stern & Co. LLP acquired a new position in Medtronic during the third quarter worth about $30,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 0.9 %

Medtronic stock opened at $93.02 on Monday. The stock has a market cap of $119.28 billion, a PE ratio of 28.45, a P/E/G ratio of 2.57 and a beta of 0.84. The stock has a 50-day moving average price of $85.51 and a 200 day moving average price of $86.86. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $93.08. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51.

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

Medtronic Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MDT. Truist Financial reduced their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Sanford C. Bernstein lifted their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. lowered their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Barclays lifted their price target on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company cut their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $95.00.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by company insiders.

Medtronic 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.