Medtronic plc (NYSE:MDT) Shares Bought by Stablepoint Partners LLC

Stablepoint Partners LLC lifted its holdings in shares of Medtronic plc (NYSE:MDT) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 65,689 shares of the medical technology company’s stock after acquiring an additional 898 shares during the quarter. Medtronic accounts for about 1.0% of Stablepoint Partners LLC’s investment portfolio, making the stock its 29th biggest position. Stablepoint Partners LLC’s holdings in Medtronic were worth $5,247,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Mackenzie Financial Corp raised its holdings in Medtronic by 29.4% in the second quarter. Mackenzie Financial Corp now owns 654,839 shares of the medical technology company’s stock valued at $51,542,000 after acquiring an additional 148,586 shares in the last quarter. Scientech Research LLC acquired a new stake in shares of Medtronic in the 2nd quarter valued at about $522,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Medtronic during the second quarter worth about $4,745,000. Creative Planning grew its stake in Medtronic by 6.6% in the second quarter. Creative Planning now owns 247,061 shares of the medical technology company’s stock worth $19,446,000 after purchasing an additional 15,305 shares in the last quarter. Finally, Magnolia Capital Advisors LLC bought a new stake in Medtronic in the second quarter valued at about $4,484,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

Shares of NYSE:MDT opened at $90.07 on Friday. The stock’s 50 day moving average price is $83.75 and its 200 day moving average price is $85.50. 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 stock has a market cap of $115.49 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 2.49 and a beta of 0.83. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68.

Medtronic (NYSE:MDT) last announced 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 business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 earnings per share. Equities research analysts anticipate 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. Investors of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. Medtronic’s payout ratio is currently 85.63%.

Insider Activity at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of research analyst reports. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Citigroup raised their price target on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Barclays upped their price objective 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 for the company in a report on Friday, November 15th. Finally, Wells Fargo & Company lowered their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” 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 given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $95.00.

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.