GSA Capital Partners LLP Grows Stock Holdings in Medtronic PLC $MDT

GSA Capital Partners LLP increased its stake in shares of Medtronic PLC (NYSE:MDT) by 521.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,158 shares of the medical technology company’s stock after buying an additional 15,234 shares during the quarter. GSA Capital Partners LLP’s holdings in Medtronic were worth $1,744,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MDT. Lodestone Wealth Management LLC purchased a new position in shares of Medtronic during the fourth quarter worth about $27,000. Anfield Capital Management LLC grew its holdings in shares of Medtronic by 410.7% during the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after buying an additional 230 shares during the last quarter. Valley Wealth Managers Inc. purchased a new position in shares of Medtronic during the third quarter worth about $29,000. Board of the Pension Protection Fund purchased a new position in shares of Medtronic during the fourth quarter worth about $29,000. Finally, GoalVest Advisory LLC purchased a new position in shares of Medtronic during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Key Stories Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic’s long-running dividend growth story is in focus again, with investors viewing the company as a stable income name as its 47-year streak of dividend increases is expected to continue. Medtronic dividend preview: 47-year growth streak set to continue
• Positive Sentiment: Medtronic is also benefiting from the broader “silver economy” investment theme, as aging populations continue to drive demand for medical devices and healthcare solutions. Silver Economy Investing: Why the Healthcare Giants Are in Focus
• Neutral Sentiment: The company announced Kweli Thompson will take over leadership of its neuroscience portfolio, replacing Brett Wall as part of a planned transition. The move keeps attention on execution in a major segment, but it is not a major financial update by itself. Medtronic Neuroscience Appointment Puts Focus On Execution And Growth Risks
• Neutral Sentiment: Medtronic also named new leaders in its neuroscience portfolio in a separate announcement, reinforcing that the change is already being absorbed by the market. Medtronic, BD name new leaders
• Neutral Sentiment: Recent trading commentary noted MDT had been advancing while the broader market declined, suggesting relative strength rather than a company-specific catalyst. Medtronic (MDT) Advances While Market Declines: Some Information for Investors

Analyst Ratings Changes

A number of brokerages have weighed in on MDT. Leerink Partners reaffirmed an “outperform” rating and issued a $119.00 price objective on shares of Medtronic in a report on Tuesday, March 10th. Evercore set a $106.00 price objective on Medtronic and gave the company an “outperform” rating in a report on Thursday, April 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Medtronic in a report on Thursday, March 26th. Truist Financial lowered their price objective on Medtronic from $103.00 to $95.00 and set a “hold” rating on the stock in a report on Wednesday, April 15th. Finally, Wells Fargo & Company began coverage on Medtronic in a report on Friday, January 30th. They issued an “overweight” rating and a $114.00 price objective on the stock. Fifteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Medtronic has a consensus rating of “Moderate Buy” and a consensus price target of $107.80.

Medtronic Price Performance

Shares of NYSE:MDT opened at $78.51 on Wednesday. The business’s 50 day simple moving average is $84.20 and its 200-day simple moving average is $93.43. The firm has a market capitalization of $100.80 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 1.84 and a beta of 0.62. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. Medtronic PLC has a 12 month low of $74.40 and a 12 month high of $106.33.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.34 by $0.02. The business had revenue of $9.02 billion for the quarter, compared to analyst estimates of $8.89 billion. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.38 EPS. As a group, equities analysts forecast that Medtronic PLC will post 5.57 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, March 27th were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, March 27th. This represents a $2.84 annualized dividend and a dividend yield of 3.6%. Medtronic’s payout ratio is 79.11%.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 52,524 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the sale, the executive vice president owned 32,768 shares of the company’s stock, valued at $3,201,761.28. The trade was a 61.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is owned by company insiders.

Medtronic Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter?defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).