Blue Barn Wealth LLC Cuts Stock Holdings in Medtronic plc (NYSE:MDT)

Blue Barn Wealth LLC lowered its stake in Medtronic plc (NYSE:MDT) by 15.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,854 shares of the medical technology company’s stock after selling 528 shares during the quarter. Blue Barn Wealth LLC’s holdings in Medtronic were worth $228,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Carmel Capital Partners LLC lifted its position in shares of Medtronic by 12.6% in the fourth quarter. Carmel Capital Partners LLC now owns 3,570 shares of the medical technology company’s stock worth $285,000 after buying an additional 400 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Medtronic in the 4th quarter worth approximately $852,732,000. Arizona State Retirement System raised its holdings in shares of Medtronic by 0.8% during the 4th quarter. Arizona State Retirement System now owns 370,464 shares of the medical technology company’s stock worth $29,593,000 after acquiring an additional 2,805 shares in the last quarter. Verdence Capital Advisors LLC boosted its position in shares of Medtronic by 16.5% during the 4th quarter. Verdence Capital Advisors LLC now owns 11,223 shares of the medical technology company’s stock valued at $897,000 after acquiring an additional 1,592 shares during the last quarter. Finally, Sound Financial Strategies Group LLC grew its holdings in shares of Medtronic by 15.1% in the fourth quarter. Sound Financial Strategies Group LLC now owns 10,367 shares of the medical technology company’s stock valued at $828,000 after purchasing an additional 1,360 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of MDT stock opened at $94.15 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The company has a market capitalization of $120.75 billion, a P/E ratio of 28.62, a P/E/G ratio of 2.22 and a beta of 0.84. The company’s 50-day simple moving average is $87.82 and its two-hundred day simple moving average is $87.68. Medtronic plc has a one year low of $75.96 and a one year high of $95.57.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. As a group, equities analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and upped their price target for the company from $92.00 to $107.00 in a research note on Tuesday. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. UBS Group increased their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Robert W. Baird boosted their price objective on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Finally, Truist Financial dropped their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $96.07.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the sale, the executive vice president now owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.