Cypress Wealth Services LLC Buys 431 Shares of Medtronic plc (NYSE:MDT)

17 Jan 2025, 10:56 by Doug Wharley · The Cerbat Gem

Cypress Wealth Services LLC raised its stake in Medtronic plc (NYSE:MDT – Free Report) by 6.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,976 shares of the medical technology company’s stock after buying an additional 431 shares during the period. Cypress Wealth Services LLC’s holdings in Medtronic were worth $557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in MDT. Clear Harbor Asset Management LLC lifted its stake in Medtronic by 1.2% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after buying an additional 111 shares in the last quarter. Guardian Wealth Management Inc. raised its holdings in shares of Medtronic by 0.9% during the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock valued at $1,182,000 after acquiring an additional 115 shares during the last quarter. First PREMIER Bank lifted its position in shares of Medtronic by 1.8% in the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after acquiring an additional 116 shares in the last quarter. First City Capital Management Inc. boosted its stake in shares of Medtronic by 2.9% in the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock worth $371,000 after acquiring an additional 116 shares during the last quarter. Finally, Hardy Reed LLC increased its position in shares of Medtronic by 4.4% during the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock worth $247,000 after purchasing an additional 116 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MDT has been the topic of several recent research reports. Evercore ISI lifted their target price on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Sanford C. Bernstein raised their target price on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Barclays upped their price target on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $95.00.

View Our Latest Report on MDT

Medtronic Stock Performance

Shares of MDT stock opened at $87.19 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The firm has a market cap of $111.80 billion, a P/E ratio of 26.66, a P/E/G ratio of 2.28 and a beta of 0.83. The firm’s 50 day moving average price is $83.65 and its 200-day moving average price is $85.01. Medtronic plc has a one year low of $75.96 and a one year high of $92.68.

Medtronic (NYSE:MDT – Get Free Report) last released 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. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts predict that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.21%. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the sale, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This represents a 19.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

About Medtronic

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