Sivia Capital Partners LLC Boosts Stock Holdings in Medtronic plc (NYSE:MDT)

Sivia Capital Partners LLC increased its holdings in Medtronic plc (NYSE:MDT) by 49.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,504 shares of the medical technology company’s stock after buying an additional 1,161 shares during the period. Sivia Capital Partners LLC’s holdings in Medtronic were worth $280,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. State Street Corp grew its position in shares of Medtronic by 0.9% in the third quarter. State Street Corp now owns 60,731,367 shares of the medical technology company’s stock valued at $5,509,155,000 after purchasing an additional 520,027 shares in the last quarter. Pzena Investment Management LLC increased its position in shares of Medtronic by 3.3% during the third quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock valued at $772,727,000 after buying an additional 275,870 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Medtronic by 436.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock valued at $661,125,000 after acquiring an additional 5,975,110 shares during the period. Dimensional Fund Advisors LP grew its stake in Medtronic by 7.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock valued at $560,494,000 after acquiring an additional 515,751 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in Medtronic by 2.3% during the 3rd quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock worth $575,460,000 after acquiring an additional 145,504 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Medtronic

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

Analyst Ratings Changes

Several research analysts have commented on MDT shares. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Sanford C. Bernstein boosted their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Truist Financial lowered their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Citigroup upped their price objective on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Finally, Evercore ISI lifted their target price on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Trading Up 1.3 %

Shares of NYSE MDT traded up $1.02 during mid-day trading on Monday, hitting $81.68. The stock had a trading volume of 3,786,669 shares, compared to its average volume of 6,865,209. The business has a 50 day moving average price of $83.99 and a two-hundred day moving average price of $84.95. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $92.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The firm has a market cap of $104.74 billion, a P/E ratio of 24.98, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83.

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

Medtronic Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 3.43%. Medtronic’s dividend payout ratio (DPR) is presently 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.