Howard Capital Management Inc. Takes Position in Medtronic plc (NYSE:MDT)

Howard Capital Management Inc. purchased a new position in shares of Medtronic plc (NYSE:MDT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,181 shares of the medical technology company’s stock, valued at approximately $733,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC bought a new position in shares of Medtronic during the third quarter worth approximately $27,000. Darwin Wealth Management LLC acquired a new stake in Medtronic during the third quarter worth approximately $27,000. Highline Wealth Partners LLC bought a new position in Medtronic during the 3rd quarter worth $27,000. J. Stern & Co. LLP acquired a new position in Medtronic in the 3rd quarter valued at $30,000. Finally, Stephens Consulting LLC lifted its position in shares of Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 204 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Truist Financial dropped their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. UBS Group boosted their target price on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Robert W. Baird increased their price target on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. cut their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Trading Up 0.4 %

Shares of MDT stock opened at $90.27 on Tuesday. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $93.08. The stock’s fifty day simple moving average is $86.26 and its 200 day simple moving average is $87.24. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $115.76 billion, a P/E ratio of 27.44, a P/E/G ratio of 2.22 and a beta of 0.84.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. The company had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. As a group, sell-side analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is currently 85.11%.

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the sale, the executive vice president now 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 SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.

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.