Medtronic plc (NYSE:MDT) Shares Bought by Two Point Capital Management Inc.

Two Point Capital Management Inc. lifted its stake in Medtronic plc (NYSE:MDT) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,159 shares of the medical technology company’s stock after purchasing an additional 437 shares during the period. Medtronic makes up 2.9% of Two Point Capital Management Inc.’s investment portfolio, making the stock its 18th largest holding. Two Point Capital Management Inc.’s holdings in Medtronic were worth $8,145,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Clear Harbor Asset Management LLC lifted its stake in shares of Medtronic by 1.2% in the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after purchasing an additional 111 shares during the period. Guardian Wealth Management Inc. lifted its stake in shares of Medtronic by 0.9% in the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock valued at $1,182,000 after purchasing an additional 115 shares during the period. First City Capital Management Inc. raised its position in Medtronic by 2.9% during the third quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock worth $371,000 after acquiring an additional 116 shares during the last quarter. Hardy Reed LLC raised its position in Medtronic by 4.4% during the third quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock worth $247,000 after acquiring an additional 116 shares during the last quarter. Finally, Precision Wealth Strategies LLC raised its position in Medtronic by 3.3% during the third quarter. Precision Wealth Strategies LLC now owns 3,741 shares of the medical technology company’s stock worth $337,000 after acquiring an additional 118 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the transaction, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Medtronic Trading Up 0.2 %

MDT opened at $91.35 on Thursday. The stock has a market capitalization of $117.14 billion, a PE ratio of 27.94, a P/E/G ratio of 2.57 and a beta of 0.84. The firm’s fifty day moving average price is $85.04 and its 200 day moving average price is $86.65. 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 12-month low of $75.96 and a 12-month high of $93.08.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, research analysts expect that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.07%. Medtronic’s dividend payout ratio is currently 85.63%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Sanford C. Bernstein lifted their target price 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. Wells Fargo & Company cut their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Barclays lifted their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Wednesday. Finally, Robert W. Baird lowered their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic 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.