AssuredPartners Investment Advisors LLC Acquires Shares of 11,521 Medtronic plc (NYSE:MDT)

AssuredPartners Investment Advisors LLC purchased a new stake in Medtronic plc (NYSE:MDT) in the fourth quarter, HoldingsChannel reports. The fund purchased 11,521 shares of the medical technology company’s stock, valued at approximately $920,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Guardian Wealth Management Inc. boosted its holdings in shares of Medtronic by 0.9% during the 3rd quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock worth $1,182,000 after purchasing an additional 115 shares during the last quarter. MONECO Advisors LLC boosted its stake in Medtronic by 1.8% during the fourth quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company’s stock worth $512,000 after buying an additional 115 shares during the last quarter. OLD Second National Bank of Aurora grew its holdings in Medtronic by 0.3% in the 4th quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company’s stock valued at $2,900,000 after buying an additional 121 shares in the last quarter. McKinley Carter Wealth Services Inc. increased its stake in shares of Medtronic by 0.7% in the 4th quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company’s stock worth $1,572,000 after acquiring an additional 129 shares during the last quarter. Finally, Vestor Capital LLC raised its holdings in shares of Medtronic by 0.3% during the 4th quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company’s stock worth $4,104,000 after acquiring an additional 138 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on MDT. Royal Bank of Canada restated an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and lifted their price target for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. UBS Group upped their price objective on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Robert W. Baird upped their price target on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $96.07.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction that occurred on 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. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Medtronic Trading Up 0.9 %

Shares of MDT stock opened at $89.00 on Friday. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The company has a 50 day moving average price of $91.00 and a 200 day moving average price of $88.05. The stock has a market capitalization of $114.14 billion, a P/E ratio of 27.05, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic (NYSE:MDT) last posted its quarterly earnings results 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 business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Equities research analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s payout ratio is presently 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.