Catalyst Financial Partners LLC Boosts Stock Position in Medtronic plc (NYSE:MDT)

Catalyst Financial Partners LLC increased its stake in shares of Medtronic plc (NYSE:MDT) by 11.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,664 shares of the medical technology company’s stock after purchasing an additional 491 shares during the quarter. Catalyst Financial Partners LLC’s holdings in Medtronic were worth $373,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new stake in Medtronic during the 3rd quarter worth about $27,000. Highline Wealth Partners LLC purchased a new stake in Medtronic during the 3rd quarter worth about $27,000. Darwin Wealth Management LLC acquired a new stake in Medtronic in the 3rd quarter worth about $27,000. Stephens Consulting LLC boosted its stake in Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after buying an additional 204 shares during the last quarter. Finally, J. Stern & Co. LLP acquired a new stake in Medtronic in the 3rd quarter worth about $30,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

Medtronic Stock Performance

Medtronic stock opened at $93.02 on Friday. The stock’s 50 day moving average price is $85.33 and its 200 day moving average price is $86.72. The firm has a market capitalization 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 has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. Medtronic plc has a one year low of $75.96 and a one year high of $93.08.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) 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 company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the business earned $1.25 EPS. Medtronic’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, sell-side analysts expect that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MDT. Truist Financial decreased their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Wednesday. Wells Fargo & Company decreased their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Barclays raised 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, Sanford C. Bernstein lifted their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.