Toth Financial Advisory Corp Grows Stock Position in Medtronic plc (NYSE:MDT)

Toth Financial Advisory Corp raised its position in Medtronic plc (NYSE:MDT) by 9.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,878 shares of the medical technology company’s stock after buying an additional 5,015 shares during the quarter. Toth Financial Advisory Corp’s holdings in Medtronic were worth $4,783,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fortitude Family Office LLC bought a new stake in Medtronic in the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic in the third quarter worth about $27,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic in the third quarter valued at approximately $27,000. J. Stern & Co. LLP purchased a new stake in shares of Medtronic during the 3rd quarter valued at approximately $30,000. Finally, Kieckhefer Group LLC bought a new position in Medtronic in the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Robert W. Baird lowered their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Sanford C. Bernstein boosted their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Truist Financial lowered their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. lowered their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $95.00.

Insider Activity

In other 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 transaction of $792,038.50. Following the transaction, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Medtronic Stock Performance

NYSE MDT opened at $90.07 on Friday. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $92.68. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The company has a 50-day simple moving average of $83.75 and a two-hundred day simple moving average of $85.50. The firm has a market cap of $115.49 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 2.49 and a beta of 0.83.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating 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 firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the previous year, the company posted $1.25 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. On average, equities analysts forecast that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is 85.63%.

About Medtronic

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.