Chicago Partners Investment Group LLC Acquires 2,139 Shares of Medtronic plc (NYSE:MDT)

Chicago Partners Investment Group LLC raised its holdings in Medtronic plc (NYSE:MDT) by 43.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,009 shares of the medical technology company’s stock after acquiring an additional 2,139 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Medtronic were worth $579,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Clear Creek Financial Management LLC boosted its holdings in Medtronic by 15.6% during the fourth quarter. Clear Creek Financial Management LLC now owns 3,595 shares of the medical technology company’s stock worth $287,000 after buying an additional 484 shares during the last quarter. Austin Private Wealth LLC boosted its position in shares of Medtronic by 24.4% during the fourth quarter. Austin Private Wealth LLC now owns 3,876 shares of the medical technology company’s stock worth $310,000 after purchasing an additional 759 shares in the last quarter. Caprock Group LLC boosted its position in shares of Medtronic by 12.6% during the fourth quarter. Caprock Group LLC now owns 47,767 shares of the medical technology company’s stock worth $3,849,000 after purchasing an additional 5,363 shares in the last quarter. Intergy Private Wealth LLC bought a new position in shares of Medtronic during the fourth quarter worth $202,000. Finally, Fiduciary Advisors Inc. bought a new position in shares of Medtronic during the fourth quarter worth $36,000. 82.06% of the stock is owned by institutional investors.

Medtronic Price Performance

Shares of NYSE MDT opened at $90.55 on Tuesday. The firm has a market cap of $116.11 billion, a P/E ratio of 27.69, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $93.08. The business’s 50 day moving average is $84.38 and its 200-day moving average is $86.09.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period last year, the firm earned $1.25 earnings per share. Medtronic’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts predict that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

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

Insider Buying and Selling at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MDT shares. Barclays lifted their price target 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. Wells Fargo & Company cut their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. JPMorgan Chase & Co. cut their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Truist Financial cut their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Finally, Robert W. Baird cut their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Medtronic has a consensus rating of “Hold” and a consensus target price of $95.00.

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.