Medtronic plc (NYSE:MDT) Shares Purchased by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC increased its holdings in Medtronic plc (NYSE:MDT) by 5.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,256 shares of the medical technology company’s stock after purchasing an additional 1,181 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Medtronic were worth $1,938,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Perigon Wealth Management LLC grew its stake in Medtronic by 9.1% in the 4th quarter. Perigon Wealth Management LLC now owns 12,782 shares of the medical technology company’s stock valued at $1,114,000 after acquiring an additional 1,062 shares during the period. Patrick M Sweeney & Associates Inc. increased its stake in shares of Medtronic by 7.0% during the fourth quarter. Patrick M Sweeney & Associates Inc. now owns 6,954 shares of the medical technology company’s stock worth $555,000 after purchasing an additional 455 shares in the last quarter. Matrix Asset Advisors Inc. NY boosted its holdings in Medtronic by 5.1% in the 4th quarter. Matrix Asset Advisors Inc. NY now owns 323,955 shares of the medical technology company’s stock worth $25,878,000 after buying an additional 15,589 shares during the last quarter. Curbstone Financial Management Corp increased its stake in Medtronic by 10.0% during the 4th quarter. Curbstone Financial Management Corp now owns 5,044 shares of the medical technology company’s stock worth $403,000 after buying an additional 458 shares in the last quarter. Finally, Cascade Investment Advisors Inc. lifted its position in shares of Medtronic by 0.6% in the fourth quarter. Cascade Investment Advisors Inc. now owns 22,024 shares of the medical technology company’s stock valued at $1,759,000 after acquiring an additional 140 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on MDT. Citigroup increased their price objective on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Wells Fargo & Company lowered their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Robert W. Baird dropped their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Finally, Barclays increased their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $95.00.

Insider Activity at Medtronic

In other 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 value of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Medtronic Trading Up 0.2 %

Shares of MDT stock opened at $92.67 on Tuesday. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. The company has a 50 day moving average price of $83.75 and a 200 day moving average price of $85.62. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The stock has a market capitalization of $118.83 billion, a P/E ratio of 28.25, a price-to-earnings-growth ratio of 2.49 and a beta of 0.83.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 earnings per share. Equities research analysts predict that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.02%. Medtronic’s 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.