Medtronic plc (NYSE:MDT) Shares Acquired by Arkadios Wealth Advisors

Arkadios Wealth Advisors increased its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 6.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,624 shares of the medical technology company's stock after purchasing an additional 3,899 shares during the period. Arkadios Wealth Advisors' holdings in Medtronic were worth $5,162,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. O Keefe Stevens Advisory Inc. lifted its holdings in Medtronic by 37.4% during the 4th quarter. O Keefe Stevens Advisory Inc. now owns 7,460 shares of the medical technology company's stock valued at $596,000 after buying an additional 2,031 shares in the last quarter. Brooklyn Investment Group increased its position in shares of Medtronic by 46.1% during the fourth quarter. Brooklyn Investment Group now owns 4,613 shares of the medical technology company's stock worth $368,000 after acquiring an additional 1,455 shares during the period. Merit Financial Group LLC increased its position in shares of Medtronic by 327.8% during the fourth quarter. Merit Financial Group LLC now owns 23,270 shares of the medical technology company's stock worth $1,859,000 after acquiring an additional 17,831 shares during the period. Butensky & Cohen Financial Security Inc. boosted its holdings in shares of Medtronic by 5.5% in the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 52,479 shares of the medical technology company's stock valued at $4,192,000 after purchasing an additional 2,750 shares during the period. Finally, Relyea Zuckerberg Hanson LLC grew its stake in Medtronic by 13.5% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 3,124 shares of the medical technology company's stock worth $250,000 after purchasing an additional 372 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MDT shares. JPMorgan Chase & Co. decreased their target price on Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a research report on Friday, November 15th. Evercore ISI lifted their price objective on Medtronic from $100.00 to $104.00 and gave the company an "outperform" rating in a report on Tuesday, October 1st. Robert W. Baird dropped their target price on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating on the stock in a report on Wednesday, November 20th. Royal Bank of Canada upgraded shares of Medtronic from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Finally, Sanford C. Bernstein upped their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $95.00.

Medtronic Stock Up 1.2 %

Medtronic stock traded up $1.07 during midday trading on Friday, reaching $88.23. The company's stock had a trading volume of 9,577,939 shares, compared to its average volume of 5,401,241. 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 capitalization of $113.13 billion, a P/E ratio of 26.98, a PEG ratio of 2.28 and a beta of 0.83. The stock's 50-day simple moving average is $83.63 and its 200-day simple moving average is $85.03. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion during 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%. Medtronic's revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $1.25 EPS. On average, sell-side analysts expect that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic's dividend payout ratio (DPR) is presently 85.63%.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the transaction, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by insiders.

About Medtronic

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.