Vantage Wealth Purchases 18,800 Shares of Medtronic plc (NYSE:MDT)

Vantage Wealth boosted its position in Medtronic plc (NYSE:MDTFree Report) by 9.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 226,315 shares of the medical technology company’s stock after acquiring an additional 18,800 shares during the period. Medtronic accounts for about 3.9% of Vantage Wealth’s holdings, making the stock its 16th biggest position. Vantage Wealth’s holdings in Medtronic were worth $18,078,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC purchased a new stake in shares of Medtronic in the third quarter worth approximately $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Medtronic in the third quarter worth approximately $27,000. Darwin Wealth Management LLC purchased a new stake in shares of Medtronic in the third quarter worth approximately $27,000. J. Stern & Co. LLP purchased a new stake in shares of Medtronic during the third quarter valued at approximately $30,000. Finally, Kieckhefer Group LLC purchased a new stake in shares of Medtronic during the fourth quarter valued at approximately $40,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wells Fargo & Company decreased their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Sanford C. Bernstein increased their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Evercore ISI increased their price target on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and an average target price of $95.00.

Read Our Latest Research Report on Medtronic

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of Medtronic 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 transaction, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

Medtronic Stock Performance

Medtronic stock opened at $90.07 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $92.68. The firm has a market capitalization of $115.49 billion, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 2.49 and a beta of 0.83. The company’s 50-day moving average is $83.75 and its 200 day moving average is $85.50.

Medtronic (NYSE:MDTGet Free Report) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 EPS. Research analysts forecast 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. Stockholders of record on Friday, December 27th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

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.

Further Reading

Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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