JB Capital LLC Has $9.34 Million Holdings in Medtronic plc (NYSE:MDT)

JB Capital LLC boosted its position in Medtronic plc (NYSE:MDT - Free Report) by 5.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,877 shares of the medical technology company's stock after buying an additional 6,381 shares during the quarter. JB Capital LLC's holdings in Medtronic were worth $9,336,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDT. Fortitude Family Office LLC bought a new position in Medtronic during the 3rd quarter valued at $27,000. Highline Wealth Partners LLC bought a new position in shares of Medtronic during the third quarter worth about $27,000. Darwin Wealth Management LLC acquired a new position in Medtronic in the third quarter worth about $27,000. J. Stern & Co. LLP bought a new stake in Medtronic in the third quarter valued at about $30,000. Finally, Fiduciary Advisors Inc. bought a new position in Medtronic during the 4th quarter worth approximately $36,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Brett A. Wall sold 12,437 shares of the company'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 transaction, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

MDT has been the topic of several research reports. Robert W. Baird dropped their price objective on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 20th. Barclays increased their price target on Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 26th. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research report on Monday, November 18th. Wells Fargo & Company lowered their price objective on Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada upgraded Medtronic from a "sector perform" rating to an "outperform" rating and raised their target price for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $95.00.

Medtronic Stock Up 0.5 %

Medtronic stock traded up $0.46 during mid-day trading on Tuesday, hitting $90.99. The company's stock had a trading volume of 5,193,094 shares, compared to its average volume of 7,546,100. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $93.08. The company has a market cap of $116.67 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. 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 firm's 50 day moving average is $84.47 and its 200 day moving average is $86.16.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. The firm's revenue was up 5.2% compared to the same quarter last year. On average, analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.08%. Medtronic's dividend payout ratio (DPR) is presently 85.63%.

Medtronic Company 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.