Sage Investment Counsel LLC Acquires Shares of 5,554 Medtronic plc (NYSE:MDT)

Sage Investment Counsel LLC acquired a new stake in shares of Medtronic plc (NYSE:MDT) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 5,554 shares of the medical technology company’s stock, valued at approximately $444,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Darwin Wealth Management LLC bought a new position in shares of Medtronic during the third quarter valued at $27,000. J. Stern & Co. LLP bought a new position in shares of Medtronic in the third quarter valued at about $30,000. Stephens Consulting LLC raised its holdings in shares of Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after buying an additional 204 shares during the last quarter. Fiduciary Advisors Inc. bought a new position in shares of Medtronic in the fourth quarter valued at about $36,000. Finally, Chelsea Counsel Co. bought a new position in shares of Medtronic in the third quarter valued at about $45,000. 82.06% of the stock is owned by institutional investors.

Medtronic Price Performance

Medtronic stock opened at $92.00 on Friday. The firm has a market capitalization of $117.97 billion, a P/E ratio of 27.96, a PEG ratio of 2.22 and a beta of 0.84. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08. The business has a 50-day moving average of $87.08 and a 200-day moving average of $87.42. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, equities analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.04%. Medtronic’s payout ratio is currently 85.11%.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Truist Financial cut their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. UBS Group lifted their price target on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Barclays lifted their price target on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. cut their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Finally, Sanford C. Bernstein lifted their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Medtronic presently has a consensus rating of “Hold” and an average target price of $95.00.

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.