Argentarii LLC bought a new stake in Medtronic plc (NYSE:MDT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,670 shares of the medical technology company's stock, valued at approximately $293,000.
Several other large investors have also recently modified their holdings of the business. Mainstream Capital Management LLC purchased a new position in shares of Medtronic during the fourth quarter valued at about $26,000. Darwin Wealth Management LLC purchased a new position in shares of Medtronic during the third quarter valued at approximately $27,000. Stephens Consulting LLC boosted its stake in shares of Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after buying an additional 204 shares during the last quarter. J. Stern & Co. LLP purchased a new stake in shares of Medtronic during the 3rd quarter valued at about $30,000. Finally, Fiduciary Advisors Inc. purchased a new position in shares of Medtronic during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 82.06% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. UBS Group upped their price target on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Sanford C. Bernstein raised their price objective on Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. decreased their price target on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a research report on Friday, November 15th. Royal Bank of Canada reissued an "outperform" rating and issued a $105.00 price target on shares of Medtronic in a report on Wednesday, February 19th. Finally, Wells Fargo & Company reduced their price objective on Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $96.07.
View Our Latest Stock Report on Medtronic
Insider Activity at Medtronic
In related news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by corporate insiders.
Medtronic Stock Performance
MDT traded down $2.16 on Wednesday, hitting $91.12. 1,668,857 shares of the stock traded hands, compared to its average volume of 6,038,052. The business has a fifty day moving average price of $88.89 and a two-hundred day moving average price of $87.88. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The firm has a market capitalization of $116.87 billion, a PE ratio of 27.63, a P/E/G ratio of 2.22 and a beta of 0.80.
Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. On average, research analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.
Medtronic Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Friday, March 28th. Medtronic's dividend payout ratio is 85.11%.
About Medtronic
(
Free Report)
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.
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