Gilman Hill Asset Management LLC Increases Position in Medtronic plc (NYSE:MDT)

Gilman Hill Asset Management LLC increased its holdings in Medtronic plc (NYSE:MDT) by 2.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,924 shares of the medical technology company’s stock after purchasing an additional 1,016 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Medtronic were worth $3,349,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Edgestream Partners L.P. acquired a new position in Medtronic during the second quarter worth $239,000. AE Wealth Management LLC increased its stake in shares of Medtronic by 24.7% during the second quarter. AE Wealth Management LLC now owns 9,578 shares of the medical technology company’s stock worth $754,000 after purchasing an additional 1,896 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Medtronic by 37.6% during the 2nd quarter. Pacer Advisors Inc. now owns 124,197 shares of the medical technology company’s stock worth $9,776,000 after purchasing an additional 33,959 shares during the last quarter. Summit Trail Advisors LLC lifted its stake in Medtronic by 1.2% in the 2nd quarter. Summit Trail Advisors LLC now owns 14,812 shares of the medical technology company’s stock valued at $1,176,000 after buying an additional 169 shares in the last quarter. Finally, Ensign Peak Advisors Inc boosted its holdings in Medtronic by 5.9% in the 2nd quarter. Ensign Peak Advisors Inc now owns 388,629 shares of the medical technology company’s stock worth $30,589,000 after buying an additional 21,545 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on MDT. Barclays increased their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Robert W. Baird decreased their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Truist Financial reduced their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Medtronic currently has an average rating of “Hold” and an average price target of $95.00.

Medtronic Trading Up 1.2 %

NYSE MDT opened at $88.23 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The stock has a market capitalization of $113.13 billion, a P/E ratio of 26.98, a PEG ratio of 2.28 and a beta of 0.83. The firm’s 50-day moving average is $83.64 and its two-hundred day moving average is $85.16. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $8.27 billion. During the same period in the prior year, the business posted $1.25 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.17%. Medtronic’s payout ratio is presently 85.63%.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction that occurred 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

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.