Flavin Financial Services Inc. Makes New Investment in Medtronic plc (NYSE:MDT)

Flavin Financial Services Inc. purchased a new position in shares of Medtronic plc (NYSE:MDT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,052 shares of the medical technology company’s stock, valued at approximately $324,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fortitude Family Office LLC bought a new stake in shares of Medtronic in the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic in the 3rd quarter valued at about $27,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic in the 3rd quarter valued at about $27,000. J. Stern & Co. LLP bought a new stake in shares of Medtronic in the 3rd quarter valued at about $30,000. Finally, Fiduciary Advisors Inc. bought a new stake in shares of Medtronic in the 4th quarter valued at about $36,000. 82.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the transaction, the executive vice president now owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MDT. Truist Financial decreased their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Wells Fargo & Company decreased their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Barclays increased their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. Finally, 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 report on Wednesday, November 20th. 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 issued a strong buy rating to the stock. According to MarketBeat, Medtronic currently has a consensus rating of “Hold” and a consensus target price of $95.00.

Medtronic Price Performance

Shares of NYSE:MDT opened at $90.55 on Tuesday. The firm has a 50 day simple moving average of $84.38 and a 200 day simple moving average of $86.09. The company has a market cap of $116.11 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 2.57 and a beta of 0.84. Medtronic plc has a one year low of $75.96 and a one year high of $93.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last released its quarterly earnings results 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. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 earnings per share. Research analysts predict that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.09%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is currently 85.63%.

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.