26,047 Shares in Medtronic plc (NYSE:MDT) Purchased by Carrera Capital Advisors

Carrera Capital Advisors purchased a new position in Medtronic plc (NYSE:MDT) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 26,047 shares of the medical technology company’s stock, valued at approximately $2,099,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Darwin Wealth Management LLC purchased a new stake in shares of Medtronic in the 3rd quarter valued at $27,000. Mainstream Capital Management LLC acquired a new position in Medtronic during the fourth quarter valued at $26,000. J. Stern & Co. LLP purchased a new stake in Medtronic in the third quarter valued at $30,000. Stephens Consulting LLC grew its position in Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 204 shares during the period. Finally, Fiduciary Advisors Inc. purchased a new position in shares of Medtronic during the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MDT. JPMorgan Chase & Co. lowered their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $92.00 to $107.00 in a research report on Tuesday. Robert W. Baird lifted their target price on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $96.07.

Insider Activity

In related news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction dated 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 owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

Medtronic Trading Down 1.3 %

Shares of Medtronic stock opened at $93.09 on Wednesday. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $95.57. The firm’s 50-day moving average price is $87.57 and its 200 day moving average price is $87.63. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $119.40 billion, a PE ratio of 28.30, a P/E/G ratio of 2.22 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. On average, sell-side analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is 85.11%.

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.