Golden State Equity Partners Has $903,000 Position in Medtronic plc (NYSE:MDT)

Golden State Equity Partners lessened its position in Medtronic plc (NYSE:MDT) by 24.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,963 shares of the medical technology company’s stock after selling 3,510 shares during the period. Golden State Equity Partners’ holdings in Medtronic were worth $903,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Kovack Advisors Inc. increased its holdings in Medtronic by 26.3% in the 4th quarter. Kovack Advisors Inc. now owns 6,973 shares of the medical technology company’s stock worth $574,000 after purchasing an additional 1,453 shares in the last quarter. K.J. Harrison & Partners Inc acquired a new stake in shares of Medtronic in the fourth quarter valued at about $395,000. Bryn Mawr Capital Management LLC increased its stake in shares of Medtronic by 337.8% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 85,843 shares of the medical technology company’s stock valued at $7,072,000 after buying an additional 66,235 shares during the period. Stevens Capital Management LP acquired a new stake in shares of Medtronic in the fourth quarter valued at about $427,000. Finally, Syon Capital LLC acquired a new stake in shares of Medtronic in the fourth quarter valued at about $564,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT traded up $0.49 on Friday, reaching $79.74. 5,024,880 shares of the company’s stock traded hands, compared to its average volume of 5,781,218. The company has a current ratio of 2.30, a quick ratio of 1.71 and a debt-to-equity ratio of 0.46. The stock has a market cap of $105.88 billion, a PE ratio of 25.39, a PEG ratio of 2.71 and a beta of 0.76. The stock’s 50 day simple moving average is $83.53 and its two-hundred day simple moving average is $81.16. Medtronic plc has a 52-week low of $68.84 and a 52-week high of $92.02.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. The company had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. Medtronic’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the business posted $1.30 earnings per share. On average, analysts forecast that Medtronic plc will post 5.2 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

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

Insiders Place Their Bets

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was 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 directly owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Medtronic news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was 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 directly owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sean Salmon sold 30,695 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total value of $2,613,065.35. Following the completion of the sale, the executive vice president now directly owns 48,289 shares of the company’s stock, valued at $4,110,842.57. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MDT shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $92.00 price target on shares of Medtronic in a research note on Wednesday, February 21st. Truist Financial increased their price target on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Mizuho increased their price target on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Finally, Oppenheimer increased their price target on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Medtronic currently 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.