Medtronic plc (NYSE:MDT) Position Boosted by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC grew its holdings in shares of Medtronic plc (NYSE:MDT) by 33.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,594 shares of the medical technology company’s stock after acquiring an additional 2,638 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Medtronic were worth $846,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Fortitude Family Office LLC bought a new position in Medtronic in the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC bought a new stake in Medtronic during the third quarter worth approximately $27,000. Darwin Wealth Management LLC bought a new stake in Medtronic during the third quarter worth approximately $27,000. J. Stern & Co. LLP acquired a new stake in Medtronic in the third quarter worth approximately $30,000. Finally, Kieckhefer Group LLC bought a new position in Medtronic during the 4th quarter valued at $40,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

Medtronic Stock Performance

Shares of MDT stock opened at $92.45 on Tuesday. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. The stock’s 50-day moving average is $83.75 and its two-hundred day moving average is $85.62. 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 firm has a market cap of $118.54 billion, a P/E ratio of 28.27, a PEG ratio of 2.49 and a beta of 0.83.

Medtronic (NYSE:MDT) last issued 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. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 earnings per share. Analysts predict that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s payout ratio is 85.63%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Sanford C. Bernstein raised their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Evercore ISI increased their target price on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Wells Fargo & Company decreased their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Finally, Robert W. Baird reduced their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $95.00.

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.