Persium Advisors LLC Acquires New Stake in Medtronic plc (NYSE:MDT)

Persium Advisors LLC bought a new position in shares of Medtronic plc (NYSE:MDT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,266 shares of the medical technology company’s stock, valued at approximately $580,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Sivia Capital Partners LLC increased its position in shares of Medtronic by 49.6% during the 4th quarter. Sivia Capital Partners LLC now owns 3,504 shares of the medical technology company’s stock worth $280,000 after purchasing an additional 1,161 shares during the last quarter. Forza Wealth Management LLC lifted its holdings in shares of Medtronic by 11.0% in the 4th quarter. Forza Wealth Management LLC now owns 4,064 shares of the medical technology company’s stock worth $325,000 after acquiring an additional 403 shares during the last quarter. Bridge Creek Capital Management LLC raised its holdings in shares of Medtronic by 0.5% in the 4th quarter. Bridge Creek Capital Management LLC now owns 40,847 shares of the medical technology company’s stock valued at $3,263,000 after buying an additional 210 shares during the period. Cooper Financial Group lifted its stake in Medtronic by 2.9% during the 4th quarter. Cooper Financial Group now owns 8,751 shares of the medical technology company’s stock worth $699,000 after acquiring an additional 247 shares in the last quarter. Finally, Future Financial Wealth Managment LLC grew its position in Medtronic by 21.1% in the 4th quarter. Future Financial Wealth Managment LLC now owns 1,725 shares of the medical technology company’s stock valued at $138,000 after acquiring an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 1.3 %

MDT stock traded up $1.02 during midday trading on Monday, hitting $81.68. 4,584,132 shares of the company’s stock were exchanged, compared to its average volume of 6,891,083. The company has a market cap of $104.74 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83. 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 stock’s fifty day moving average price is $83.99 and its 200-day moving average price is $84.95. Medtronic plc has a one year low of $75.96 and a one year high of $92.68.

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, beating analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion for 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 firm’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Analyst Upgrades and Downgrades

MDT has been the topic of several research reports. Wells Fargo & Company lowered their price objective 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 price objective on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Truist Financial cut their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Evercore ISI boosted their price objective on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $95.00.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the sale, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by 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.