Liberty One Investment Management LLC Has $4.06 Million Holdings in Medtronic plc (NYSE:MDT)

Liberty One Investment Management LLC lifted its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,861 shares of the medical technology company's stock after acquiring an additional 3,640 shares during the quarter. Liberty One Investment Management LLC's holdings in Medtronic were worth $4,063,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MDT. Edgestream Partners L.P. purchased a new stake in shares of Medtronic in the second quarter valued at $239,000. Ieq Capital LLC lifted its stake in Medtronic by 18.8% in the 2nd quarter. Ieq Capital LLC now owns 64,510 shares of the medical technology company's stock worth $5,078,000 after acquiring an additional 10,187 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Medtronic by 1.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,524,196 shares of the medical technology company's stock valued at $119,969,000 after acquiring an additional 15,085 shares in the last quarter. Bridges Investment Management Inc. acquired a new position in shares of Medtronic in the 2nd quarter valued at about $2,904,000. Finally, AE Wealth Management LLC lifted its position in shares of Medtronic by 24.7% in the second quarter. AE Wealth Management LLC now owns 9,578 shares of the medical technology company's stock worth $754,000 after purchasing an additional 1,896 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 9,850 shares of the company's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the transaction, the executive vice president now directly 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 SEC, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MDT shares. Citigroup upped their price objective on shares of Medtronic from $85.00 to $92.00 and gave the company a "neutral" rating in a research note 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 note on Wednesday, December 18th. Royal Bank of Canada raised Medtronic from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. 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. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $95.00.

Medtronic Stock Performance

Medtronic stock traded up $1.07 on Friday, reaching $88.23. 9,577,939 shares of the stock were exchanged, compared to its average volume of 5,401,241. The stock has a market cap of $113.13 billion, a PE ratio of 26.98, a PEG ratio of 2.28 and a beta of 0.83. The firm has a fifty day moving average price of $83.64 and a two-hundred day moving average price of $85.16. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $92.68. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51.

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

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic's payout ratio is presently 85.63%.

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.