Stevens Capital Management LP Invests $427,000 in Medtronic plc (NYSE:MDT)

Stevens Capital Management LP bought a new position in shares of Medtronic plc (NYSE:MDT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,183 shares of the medical technology company’s stock, valued at approximately $427,000.

A number of other hedge funds also recently modified their holdings of the stock. Syon Capital LLC acquired a new stake in shares of Medtronic during the 4th quarter worth about $564,000. Two Point Capital Management Inc. increased its holdings in Medtronic by 0.7% in the 4th quarter. Two Point Capital Management Inc. now owns 88,547 shares of the medical technology company’s stock valued at $7,295,000 after buying an additional 574 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its holdings in Medtronic by 12.0% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 93,397 shares of the medical technology company’s stock valued at $7,694,000 after buying an additional 10,018 shares during the period. Atria Wealth Solutions Inc. grew its holdings in shares of Medtronic by 5.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 87,349 shares of the medical technology company’s stock valued at $7,238,000 after purchasing an additional 4,672 shares during the last quarter. Finally, Wynn Capital LLC bought a new stake in shares of Medtronic during the 4th quarter valued at approximately $202,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other news, EVP Michael Marinaro sold 854 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the sale, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Michael Marinaro sold 854 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the sale, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Sean Salmon sold 30,695 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the sale, the executive vice president now owns 48,289 shares of the company’s stock, valued at approximately $4,110,842.57. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Medtronic Trading Up 0.6 %

Shares of NYSE MDT traded up $0.49 during midday trading on Friday, reaching $79.74. The stock had a trading volume of 5,024,588 shares, compared to its average volume of 6,250,930. The firm has a market cap of $105.88 billion, a price-to-earnings ratio of 25.38, a price-to-earnings-growth ratio of 2.75 and a beta of 0.76. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $92.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30. The company’s 50 day moving average price is $83.62 and its 200 day moving average price is $81.12.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.04. The business had revenue of $8.09 billion for the quarter, compared to analyst estimates of $7.95 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.71%. Medtronic’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.30 earnings per share. As a group, sell-side analysts expect that Medtronic plc will post 5.2 EPS for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is 87.90%.

Analyst Upgrades and Downgrades

MDT has been the topic of several research reports. Truist Financial lifted their price target on shares of Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. Oppenheimer lifted their price target on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 21st. Royal Bank of Canada reiterated a “sector perform” rating and set a $92.00 target price on shares of Medtronic in a research report on Wednesday, February 21st. Finally, Mizuho lifted their target price on shares of Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and an average price target of $94.91.

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.