Donoghue Forlines LLC Purchases New Holdings in Medtronic plc (NYSE:MDT)

Donoghue Forlines LLC acquired a new position in shares of Medtronic plc (NYSE:MDT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 18,828 shares of the medical technology company’s stock, valued at approximately $1,504,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDT. Mutual Advisors LLC increased its position in shares of Medtronic by 12.7% in the fourth quarter. Mutual Advisors LLC now owns 46,168 shares of the medical technology company’s stock worth $4,024,000 after purchasing an additional 5,190 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Medtronic by 5.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 1,154,272 shares of the medical technology company’s stock worth $92,203,000 after acquiring an additional 64,533 shares during the period. Marino Stram & Associates LLC lifted its holdings in shares of Medtronic by 7.8% during the 4th quarter. Marino Stram & Associates LLC now owns 7,419 shares of the medical technology company’s stock worth $593,000 after acquiring an additional 534 shares during the period. Westside Investment Management Inc. boosted its position in shares of Medtronic by 5.1% during the 4th quarter. Westside Investment Management Inc. now owns 18,474 shares of the medical technology company’s stock worth $1,476,000 after acquiring an additional 890 shares in the last quarter. Finally, Magnus Financial Group LLC increased its stake in Medtronic by 16.9% in the fourth quarter. Magnus Financial Group LLC now owns 3,433 shares of the medical technology company’s stock valued at $274,000 after acquiring an additional 497 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wells Fargo & Company cut their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Sanford C. Bernstein raised their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Barclays boosted their target price on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. reduced their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Finally, Robert W. Baird lowered their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Stock Up 0.2 %

Shares of NYSE:MDT opened at $88.00 on Thursday. The firm has a market cap of $112.84 billion, a P/E ratio of 26.88, a P/E/G ratio of 2.50 and a beta of 0.83. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $92.68. The business has a fifty day simple moving average of $83.64 and a 200 day simple moving average of $85.39. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period last year, the company earned $1.25 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. Analysts predict that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the transaction, the executive vice president now directly owns 40,708 shares of the company’s stock, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

Medtronic Company 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.