Eubel Brady & Suttman Asset Management Inc. Has $25.88 Million Stock Position in Medtronic plc (NYSE:MDT)

Eubel Brady & Suttman Asset Management Inc. lifted its stake in Medtronic plc (NYSE:MDT) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 323,959 shares of the medical technology company’s stock after purchasing an additional 646 shares during the period. Medtronic comprises about 3.4% of Eubel Brady & Suttman Asset Management Inc.’s investment portfolio, making the stock its 6th largest position. Eubel Brady & Suttman Asset Management Inc.’s holdings in Medtronic were worth $25,878,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Hudson Edge Investment Partners Inc. grew its stake in Medtronic by 70.3% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 75,198 shares of the medical technology company’s stock worth $6,007,000 after acquiring an additional 31,054 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new stake in shares of Medtronic in the fourth quarter valued at approximately $82,000. Crumly & Associates Inc. grew its stake in Medtronic by 6.5% in the fourth quarter. Crumly & Associates Inc. now owns 6,533 shares of the medical technology company’s stock worth $522,000 after purchasing an additional 397 shares in the last quarter. Bradley Foster & Sargent Inc. CT increased its holdings in Medtronic by 10.2% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 24,854 shares of the medical technology company’s stock worth $1,985,000 after purchasing an additional 2,294 shares during the period. Finally, Cassaday & Co Wealth Management LLC raised its position in Medtronic by 210.0% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 7,450 shares of the medical technology company’s stock valued at $595,000 after purchasing an additional 5,047 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Barclays increased their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Truist Financial reduced their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Sanford C. Bernstein upped their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Medtronic has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Stock Up 2.3 %

Medtronic stock opened at $89.95 on Friday. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $93.08. The business has a fifty day moving average price of $86.08 and a 200-day moving average price of $87.10. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The stock has a market capitalization of $115.34 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 2.46 and a beta of 0.84.

Medtronic (NYSE:MDT) last issued 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. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Equities research analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is presently 85.11%.

Insider Buying and Selling at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction 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 completion of the sale, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by company insiders.

Medtronic Company 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.