CCLA Investment Management Boosts Stock Holdings in Medtronic plc (NYSE:MDT)

CCLA Investment Management increased its stake in Medtronic plc (NYSE:MDT - Free Report) by 14.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,054 shares of the medical technology company's stock after acquiring an additional 14,876 shares during the period. CCLA Investment Management's holdings in Medtronic were worth $9,191,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC bought a new position in Medtronic during the 3rd quarter valued at about $27,000. Darwin Wealth Management LLC purchased a new position in shares of Medtronic during the third quarter valued at approximately $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Medtronic in the third quarter worth approximately $27,000. J. Stern & Co. LLP bought a new stake in shares of Medtronic during the 3rd quarter worth approximately $30,000. Finally, Chelsea Counsel Co. purchased a new position in Medtronic during the 3rd quarter valued at $45,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the stock in a transaction dated 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 approximately $3,273,330.28. This trade represents a 19.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by insiders.

Medtronic Stock Performance

Shares of NYSE MDT traded up $0.08 during midday trading on Wednesday, reaching $85.33. The company had a trading volume of 12,260,312 shares, compared to its average volume of 8,509,968. The stock has a market cap of $109.42 billion, a P/E ratio of 26.09, a P/E/G ratio of 2.33 and a beta of 0.83. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $92.68. The business's 50-day simple moving average is $83.74 and its 200 day simple moving average is $85.01.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 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 analysts' expectations of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm's revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.25 EPS. On average, analysts forecast that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 3.28%. Medtronic's dividend payout ratio (DPR) is presently 85.63%.

Analysts Set New Price Targets

Several research firms have issued reports on MDT. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research report on Monday, November 18th. Wells Fargo & Company cut their price target on Medtronic from $106.00 to $98.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 20th. Royal Bank of Canada upgraded shares of 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. Barclays boosted their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. Finally, Citigroup lifted their price objective on shares of Medtronic from $85.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Medtronic 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.