Colrain Capital LLC Takes $3.07 Million Position in Medtronic plc (NYSE:MDT)

Colrain Capital LLC bought a new stake in Medtronic plc (NYSE:MDT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 38,060 shares of the medical technology company's stock, valued at approximately $3,067,000. Medtronic accounts for approximately 3.0% of Colrain Capital LLC's portfolio, making the stock its 12th biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MDT. Guardian Wealth Management Inc. grew its stake in shares of Medtronic by 0.9% in the 3rd quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company's stock worth $1,182,000 after purchasing an additional 115 shares during the last quarter. MONECO Advisors LLC lifted its position in shares of Medtronic by 1.8% during the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock valued at $512,000 after acquiring an additional 115 shares during the last quarter. OLD Second National Bank of Aurora lifted its position in shares of Medtronic by 0.3% during the 4th quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company's stock valued at $2,900,000 after acquiring an additional 121 shares during the last quarter. McKinley Carter Wealth Services Inc. boosted its stake in shares of Medtronic by 0.7% during the 4th quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company's stock worth $1,572,000 after acquiring an additional 129 shares in the last quarter. Finally, Vestor Capital LLC increased its stake in Medtronic by 0.3% in the 4th quarter. Vestor Capital LLC now owns 51,375 shares of the medical technology company's stock worth $4,104,000 after purchasing an additional 138 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

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Medtronic Stock Performance

Shares of NYSE MDT traded down $1.38 during mid-day trading on Tuesday, hitting $88.48. The company had a trading volume of 7,059,371 shares, compared to its average volume of 6,577,190. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The firm has a market cap of $113.48 billion, a P/E ratio of 26.89, a PEG ratio of 2.22 and a beta of 0.80. The business's 50-day simple moving average is $91.02 and its 200-day simple moving average is $87.99. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. As a group, analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.70 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.16%. Medtronic's payout ratio is currently 85.11%.

Insiders Place Their Bets

In related news, EVP Brett A. Wall sold 9,850 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

MDT has been the subject of several research analyst reports. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and upped their price target for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. UBS Group upped their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Robert W. Baird boosted their price target on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $96.07.

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.