United Asset Strategies Inc. Decreases Holdings in Medtronic plc (NYSE:MDT)

United Asset Strategies Inc. decreased its holdings in shares of Medtronic plc (NYSE:MDT) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,214 shares of the medical technology company’s stock after selling 131 shares during the quarter. United Asset Strategies Inc.’s holdings in Medtronic were worth $656,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Scientech Research LLC purchased a new position in shares of Medtronic during the second quarter worth about $522,000. Susquehanna Fundamental Investments LLC acquired a new position in Medtronic during the second quarter worth approximately $4,745,000. Creative Planning boosted its holdings in shares of Medtronic by 6.6% in the second quarter. Creative Planning now owns 247,061 shares of the medical technology company’s stock valued at $19,446,000 after acquiring an additional 15,305 shares during the period. NewEdge Advisors LLC grew its position in shares of Medtronic by 7.1% during the second quarter. NewEdge Advisors LLC now owns 122,880 shares of the medical technology company’s stock worth $9,672,000 after acquiring an additional 8,127 shares during the last quarter. Finally, Wellington Wealth Strategies LLC. purchased a new stake in Medtronic in the 2nd quarter valued at $257,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

MDT has been the subject of a number of research reports. Barclays upped their target price on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Evercore ISI upped their price target on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Truist Financial lowered 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. Robert W. Baird cut their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Trading Up 2.5 %

Shares of Medtronic stock opened at $92.45 on Tuesday. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. The business’s fifty day moving average is $83.75 and its two-hundred day moving average is $85.62. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The firm has a market cap of $118.54 billion, a PE ratio of 28.27, a P/E/G ratio of 2.49 and a beta of 0.83.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate 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 in the prior year, the firm posted $1.25 EPS. The company’s revenue was up 5.2% on a year-over-year basis. Analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid 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 3.03%. Medtronic’s dividend payout ratio is presently 85.63%.

Medtronic Company 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.