Carnegie Lake Advisors LLC Buys 150 Shares of Medtronic plc (NYSE:MDT)

Carnegie Lake Advisors LLC grew its stake in shares of Medtronic plc (NYSE:MDT) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,156 shares of the medical technology company’s stock after acquiring an additional 150 shares during the period. Carnegie Lake Advisors LLC’s holdings in Medtronic were worth $1,291,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Ritholtz Wealth Management raised its stake in shares of Medtronic by 39.8% during the third quarter. Ritholtz Wealth Management now owns 14,242 shares of the medical technology company’s stock valued at $1,282,000 after acquiring an additional 4,051 shares during the last quarter. Willis Investment Counsel lifted its holdings in Medtronic by 0.3% during the 3rd quarter. Willis Investment Counsel now owns 351,850 shares of the medical technology company’s stock worth $31,677,000 after buying an additional 990 shares during the period. Woodstock Corp grew its position in shares of Medtronic by 1.2% in the 3rd quarter. Woodstock Corp now owns 132,093 shares of the medical technology company’s stock valued at $11,892,000 after buying an additional 1,506 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Medtronic by 18.5% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 12,179 shares of the medical technology company’s stock valued at $1,096,000 after buying an additional 1,903 shares during the period. Finally, Paladin Wealth LLC bought a new position in shares of Medtronic during the third quarter worth about $789,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, the executive vice president now owns 40,979 shares of the company’s stock, valued at $3,688,110. This represents a 23.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

Medtronic Trading Up 0.9 %

NYSE:MDT opened at $90.84 on Tuesday. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $93.08. The firm has a 50-day moving average price of $84.85 and a two-hundred day moving average price of $86.48. The firm has a market cap of $116.48 billion, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 earnings per share. On average, equities analysts expect that Medtronic plc will post 5.45 earnings per share for the current fiscal 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 3.08%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MDT shares. Robert W. Baird dropped their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Barclays upped their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. JPMorgan Chase & Co. cut their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Finally, Sanford C. Bernstein boosted their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $95.00.

About Medtronic

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.