BluePath Capital Management LLC Buys 2,430 Shares of Medtronic plc (NYSE:MDT)

BluePath Capital Management LLC lifted its position in Medtronic plc (NYSE:MDT) by 25.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 12,111 shares of the medical technology company’s stock after purchasing an additional 2,430 shares during the quarter. BluePath Capital Management LLC’s holdings in Medtronic were worth $991,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the firm’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 in the company, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $85.33 on Thursday. The stock has a 50-day moving average of $83.74 and a 200-day moving average of $85.01. Medtronic plc has a one year low of $75.96 and a one year high of $92.68. The stock has a market cap of $109.42 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 2.28 and a beta of 0.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 earnings per share. As a group, sell-side analysts expect that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.28%. Medtronic’s dividend payout ratio is presently 85.63%.

Wall Street Analyst Weigh In

MDT has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Barclays raised their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Sanford C. Bernstein upped their target price on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Robert W. Baird lowered their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Finally, Wells Fargo & Company reduced 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. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company 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.