Medtronic plc (NYSE:MDT) Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. raised its holdings in Medtronic plc (NYSE:MDT) by 1.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 190,937 shares of the medical technology company’s stock after acquiring an additional 3,255 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Medtronic were worth $15,252,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Natixis Advisors LLC boosted its position in Medtronic by 5.9% in the 4th quarter. Natixis Advisors LLC now owns 1,423,128 shares of the medical technology company’s stock worth $113,679,000 after purchasing an additional 78,918 shares in the last quarter. Poinciana Advisors Group LLC acquired a new stake in Medtronic during the fourth quarter valued at $341,000. Valtinson Bruner Financial Planning LLC increased its holdings in Medtronic by 4.0% in the fourth quarter. Valtinson Bruner Financial Planning LLC now owns 23,933 shares of the medical technology company’s stock valued at $1,912,000 after buying an additional 920 shares in the last quarter. Buckley Wealth Management LLC raised its position in shares of Medtronic by 2.7% in the fourth quarter. Buckley Wealth Management LLC now owns 9,945 shares of the medical technology company’s stock worth $794,000 after acquiring an additional 262 shares during the period. Finally, First Eagle Investment Management LLC boosted its stake in shares of Medtronic by 0.3% during the 4th quarter. First Eagle Investment Management LLC now owns 9,792,200 shares of the medical technology company’s stock worth $782,201,000 after acquiring an additional 28,910 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Sanford C. Bernstein lifted their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. UBS Group increased their target price on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Robert W. Baird increased their price objective on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Barclays increased their target price 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $96.07.

Insider Activity

In related news, EVP Brett A. Wall sold 9,850 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the transaction, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.20% of the company’s stock.

Medtronic Stock Up 0.9 %

Shares of MDT opened at $93.18 on Monday. 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 cap of $119.51 billion, a P/E ratio of 28.32, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The company’s 50-day moving average price is $89.61 and its 200 day moving average price is $87.95. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $96.25.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.36 by $0.03. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. On average, sell-side analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.00%. Medtronic’s dividend payout ratio is currently 85.11%.

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.