Cheviot Value Management LLC Purchases 2,885 Shares of Medtronic plc (NYSE:MDT)

by · The Markets Daily

Cheviot Value Management LLC raised its position in shares of Medtronic plc (NYSE:MDT – Free Report) by 3.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 86,944 shares of the medical technology company’s stock after purchasing an additional 2,885 shares during the quarter. Medtronic comprises about 1.3% of Cheviot Value Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Cheviot Value Management LLC’s holdings in Medtronic were worth $6,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Copley Financial Group Inc. purchased a new stake in Medtronic during the third quarter valued at $694,000. Franklin Street Advisors Inc. NC increased its holdings in shares of Medtronic by 32.6% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock worth $5,873,000 after buying an additional 18,057 shares during the last quarter. Olstein Capital Management L.P. raised its position in shares of Medtronic by 8.0% during the 4th quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company’s stock valued at $7,509,000 after buying an additional 7,000 shares in the last quarter. Czech National Bank lifted its holdings in shares of Medtronic by 6.4% in the 4th quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock valued at $22,212,000 after acquiring an additional 16,786 shares during the last quarter. Finally, Empowered Funds LLC grew its position in Medtronic by 2.7% in the fourth quarter. Empowered Funds LLC now owns 105,822 shares of the medical technology company’s stock worth $8,453,000 after acquiring an additional 2,778 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 0.6 %

Shares of NYSE MDT opened at $84.24 on Friday. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The firm has a market cap of $108.04 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. The business has a fifty day simple moving average of $88.18 and a two-hundred day simple moving average of $87.29. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT – Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.32%. Medtronic’s dividend payout ratio is presently 85.11%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Robert W. Baird raised their price objective on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Truist Financial lowered their price target on Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, April 11th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Royal Bank of Canada restated an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th. Finally, Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and upped their price target for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, eight 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 stock presently has a consensus rating of “Hold” and a consensus target price of $96.14.

View Our Latest Report on Medtronic

About Medtronic

(Free Report)

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.

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