Financial Perspectives Inc Boosts Stock Holdings in Medtronic plc (NYSE:MDT)

Financial Perspectives Inc grew its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 227,096 shares of the medical technology company's stock after buying an additional 5,261 shares during the period. Medtronic comprises 6.1% of Financial Perspectives Inc's portfolio, making the stock its largest position. Financial Perspectives Inc's holdings in Medtronic were worth $18,140,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Global Retirement Partners LLC lifted its holdings in Medtronic by 2.2% during the 4th quarter. Global Retirement Partners LLC now owns 28,836 shares of the medical technology company's stock worth $2,303,000 after buying an additional 617 shares during the last quarter. Northcape Wealth Management LLC lifted its holdings in Medtronic by 12.1% during the 4th quarter. Northcape Wealth Management LLC now owns 23,829 shares of the medical technology company's stock worth $1,903,000 after buying an additional 2,565 shares during the last quarter. Bank of Jackson Hole Trust acquired a new stake in shares of Medtronic during the 4th quarter worth approximately $256,000. Mcdonald Partners LLC raised its position in shares of Medtronic by 20.5% during the 4th quarter. Mcdonald Partners LLC now owns 13,497 shares of the medical technology company's stock worth $1,078,000 after purchasing an additional 2,297 shares during the period. Finally, Cardinal Capital Management raised its position in shares of Medtronic by 3.0% during the 4th quarter. Cardinal Capital Management now owns 73,698 shares of the medical technology company's stock worth $5,938,000 after purchasing an additional 2,161 shares during the period. Institutional investors own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Needham & Company LLC reiterated a "hold" rating on shares of Medtronic in a research report on Wednesday. JPMorgan Chase & Co. lowered their target price on Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a research report on Friday, November 15th. Wells Fargo & Company lowered their target price on Medtronic from $106.00 to $98.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 20th. Sanford C. Bernstein raised their target price on Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a research report on Wednesday, November 20th. Finally, UBS Group raised their target price on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $95.20.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction 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 sale, the executive vice president now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by insiders.

Medtronic Price Performance

Shares of MDT traded up $2.01 during trading hours on Friday, hitting $89.95. 11,762,886 shares of the company were exchanged, compared to its average volume of 7,605,718. The company has a market capitalization of $115.34 billion, a PE ratio of 27.34, a PEG ratio of 2.46 and a beta of 0.84. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The firm has a fifty day simple moving average of $86.08 and a 200-day simple moving average of $87.10. Medtronic plc has a one year low of $75.96 and a one year high of $93.08.

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, topping the consensus estimate of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to analysts' expectations of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. As a group, sell-side analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. Medtronic's dividend payout ratio (DPR) is presently 85.11%.

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.