Financial Management Professionals Inc. Increases Stake in Medtronic plc (NYSE:MDT)

Financial Management Professionals Inc. lifted its holdings in Medtronic plc (NYSE:MDT) by 30.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,262 shares of the medical technology company’s stock after buying an additional 1,446 shares during the quarter. Financial Management Professionals Inc.’s holdings in Medtronic were worth $500,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Ameritas Advisory Services LLC boosted its stake in Medtronic by 63.4% in the 4th quarter. Ameritas Advisory Services LLC now owns 28,273 shares of the medical technology company’s stock worth $2,258,000 after purchasing an additional 10,975 shares in the last quarter. HB Wealth Management LLC raised its holdings in shares of Medtronic by 5.3% in the fourth quarter. HB Wealth Management LLC now owns 79,813 shares of the medical technology company’s stock worth $6,375,000 after buying an additional 4,051 shares during the last quarter. Financial & Tax Architects LLC lifted its stake in shares of Medtronic by 5.0% during the fourth quarter. Financial & Tax Architects LLC now owns 75,222 shares of the medical technology company’s stock worth $6,009,000 after buying an additional 3,572 shares during the period. Wallington Asset Management LLC grew its holdings in shares of Medtronic by 0.7% during the fourth quarter. Wallington Asset Management LLC now owns 194,542 shares of the medical technology company’s stock valued at $15,540,000 after buying an additional 1,413 shares during the last quarter. Finally, CGN Advisors LLC increased its position in shares of Medtronic by 14.1% in the 4th quarter. CGN Advisors LLC now owns 37,187 shares of the medical technology company’s stock valued at $2,971,000 after acquiring an additional 4,601 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Citigroup upped their price objective on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Sanford C. Bernstein raised their price target on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Finally, JPMorgan Chase & Co. lowered their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Medtronic has an average rating of “Hold” and an average target price of $95.00.

Medtronic Stock Performance

MDT opened at $88.23 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The business has a 50 day moving average price of $83.64 and a two-hundred day moving average price of $85.10. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $92.68. The company has a market capitalization of $113.13 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 2.28 and a beta of 0.83.

Medtronic (NYSE:MDT) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the prior year, the business earned $1.25 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts predict that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.17%. Medtronic’s dividend payout ratio is currently 85.63%.

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.