Godsey & Gibb Inc. Has $18.62 Million Stock Holdings in Medtronic plc (NYSE:MDT)

Godsey & Gibb Inc. raised its stake in Medtronic plc (NYSE:MDT - Free Report) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 233,086 shares of the medical technology company's stock after buying an additional 4,725 shares during the quarter. Godsey & Gibb Inc.'s holdings in Medtronic were worth $18,619,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MDT. Fortitude Family Office LLC acquired a new position in Medtronic in the third quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic during the 3rd quarter worth $27,000. Darwin Wealth Management LLC bought a new position in shares of Medtronic during the 3rd quarter valued at $27,000. J. Stern & Co. LLP bought a new stake in Medtronic in the third quarter worth $30,000. Finally, Kieckhefer Group LLC acquired a new position in Medtronic during the fourth quarter worth $40,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Insider Activity at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the sale, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company's stock.

Medtronic Stock Performance

Shares of MDT stock traded up $1.79 during mid-day trading on Thursday, reaching $87.19. The stock had a trading volume of 7,265,684 shares, compared to its average volume of 8,385,615. The firm has a market cap of $111.80 billion, a PE ratio of 26.66, a P/E/G ratio of 2.28 and a beta of 0.83. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. Medtronic plc has a one year low of $75.96 and a one year high of $92.68. The firm's 50 day simple moving average is $83.65 and its 200 day simple moving average is $85.01.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.01. The firm had revenue of $8.40 billion during the quarter, compared to analysts' expectations of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 earnings per share. On average, analysts forecast that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.21%. The ex-dividend date was Friday, December 27th. Medtronic's dividend payout ratio is currently 85.63%.

Analysts Set New Price Targets

MDT has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price target on Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a research note on Wednesday, November 20th. Evercore ISI upped their target price on Medtronic from $100.00 to $104.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 1st. Truist Financial dropped their price target 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. 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 research note on Friday, November 15th. Finally, Robert W. Baird cut their target price 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. 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. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus 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.