F M Investments LLC Boosts Stake in Medtronic plc (NYSE:MDT)

F M Investments LLC lifted its stake in Medtronic plc (NYSE:MDT - Free Report) by 188.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,680 shares of the medical technology company's stock after purchasing an additional 71,647 shares during the period. F M Investments LLC's holdings in Medtronic were worth $8,761,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of MDT. Vanguard Group Inc. increased its holdings in Medtronic by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company's stock worth $9,921,367,000 after acquiring an additional 754,395 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Medtronic by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 27,056,217 shares of the medical technology company's stock valued at $2,155,085,000 after purchasing an additional 574,055 shares during the period. Invesco Ltd. raised its position in shares of Medtronic by 17.8% during the 4th quarter. Invesco Ltd. now owns 15,445,284 shares of the medical technology company's stock valued at $1,233,769,000 after purchasing an additional 2,333,600 shares during the period. Norges Bank bought a new position in Medtronic in the 4th quarter worth $1,163,580,000. Finally, Raymond James Financial Inc. purchased a new stake in Medtronic in the 4th quarter worth $852,732,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Stock Up 0.7 %

Shares of NYSE MDT traded up $0.62 during midday trading on Monday, reaching $83.52. 1,683,864 shares of the company's stock traded hands, compared to its average volume of 6,664,317. The stock's 50 day simple moving average is $89.71 and its 200-day simple moving average is $87.63. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The company has a market cap of $107.12 billion, a price-to-earnings ratio of 25.39, a P/E/G ratio of 2.22 and a beta of 0.79.

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

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend was Friday, March 28th. Medtronic's payout ratio is presently 85.11%.

Analysts Set New Price Targets

Several research firms have recently issued reports on MDT. UBS Group lifted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report 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 report on Wednesday, February 19th. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Robert W. Baird increased their target price on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Medtronic presently has an average rating of "Hold" and a consensus target price of $96.14.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of the business's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.

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.