Evergreen Wealth Management LLC Acquires 663 Shares of Medtronic plc (NYSE:MDT)

Evergreen Wealth Management LLC raised its holdings in shares of Medtronic plc (NYSE:MDT) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,865 shares of the medical technology company’s stock after purchasing an additional 663 shares during the period. Medtronic accounts for approximately 1.3% of Evergreen Wealth Management LLC’s investment portfolio, making the stock its 28th biggest holding. Evergreen Wealth Management LLC’s holdings in Medtronic were worth $2,146,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Catalyst Capital Advisors LLC increased its position in shares of Medtronic by 1.4% during the fourth quarter. Catalyst Capital Advisors LLC now owns 29,325 shares of the medical technology company’s stock worth $2,342,000 after purchasing an additional 405 shares in the last quarter. Americana Partners LLC increased its position in shares of Medtronic by 5.8% during the fourth quarter. Americana Partners LLC now owns 6,884 shares of the medical technology company’s stock worth $550,000 after purchasing an additional 379 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. increased its position in shares of Medtronic by 10.4% during the fourth quarter. Financiere des Professionnels Fonds d investissement inc. now owns 139,042 shares of the medical technology company’s stock worth $11,107,000 after purchasing an additional 13,051 shares in the last quarter. Capital Performance Advisors LLP increased its position in shares of Medtronic by 68.2% during the fourth quarter. Capital Performance Advisors LLP now owns 4,638 shares of the medical technology company’s stock worth $370,000 after purchasing an additional 1,881 shares in the last quarter. Finally, Sierra Ocean LLC acquired a new position in shares of Medtronic during the fourth quarter worth $219,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MDT shares. Wells Fargo & Company cut their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. JPMorgan Chase & Co. cut their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Wednesday, February 12th. Barclays upped their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Finally, Sanford C. Bernstein upped their target price on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Trading Up 0.9 %

MDT stock opened at $93.02 on Monday. The company’s 50-day simple moving average is $85.51 and its 200-day simple moving average is $86.86. 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 plc has a 52-week low of $75.96 and a 52-week high of $93.08. The firm has a market cap of $119.28 billion, a P/E ratio of 28.45, a PEG ratio of 2.57 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping 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 business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period in the prior year, the company posted $1.25 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities analysts forecast that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.01%. Medtronic’s dividend payout ratio (DPR) is presently 85.63%.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction 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. This represents a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

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.