Cypress Wealth Services LLC Acquires 431 Shares of Medtronic plc (NYSE:MDT)

Cypress Wealth Services LLC raised its holdings in shares of Medtronic plc (NYSE:MDT) by 6.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,976 shares of the medical technology company’s stock after acquiring an additional 431 shares during the quarter. Cypress Wealth Services LLC’s holdings in Medtronic were worth $557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Ritholtz Wealth Management increased its position in Medtronic by 282.6% in the fourth quarter. Ritholtz Wealth Management now owns 54,485 shares of the medical technology company’s stock worth $4,352,000 after buying an additional 40,243 shares in the last quarter. Beech Hill Advisors Inc. increased its holdings in Medtronic by 5.5% in the 4th quarter. Beech Hill Advisors Inc. now owns 48,306 shares of the medical technology company’s stock worth $3,859,000 after acquiring an additional 2,519 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in Medtronic during the 4th quarter worth approximately $280,000. StrongBox Wealth LLC lifted its holdings in Medtronic by 3.6% during the fourth quarter. StrongBox Wealth LLC now owns 16,701 shares of the medical technology company’s stock valued at $1,334,000 after purchasing an additional 576 shares in the last quarter. Finally, Steph & Co. boosted its position in shares of Medtronic by 1,736.2% in the fourth quarter. Steph & Co. now owns 1,065 shares of the medical technology company’s stock worth $85,000 after purchasing an additional 1,007 shares during the period. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the topic of a number of analyst reports. Robert W. Baird lowered their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. Evercore ISI boosted their price objective on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Wells Fargo & Company lowered their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. One equities 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and an average target price of $95.00.

Medtronic Stock Up 2.1 %

Shares of NYSE:MDT opened at $87.19 on Friday. The company has a market cap of $111.80 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 2.28 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 company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average price of $83.65 and a 200 day moving average price of $85.01.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 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 firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the previous year, the business earned $1.25 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts predict that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 3.21%. 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 company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

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.