Andra AP fonden Raises Stake in Medtronic plc (NYSE:MDT)

Andra AP fonden grew its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 153.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 46,929 shares of the medical technology company's stock after acquiring an additional 28,400 shares during the period. Andra AP fonden's holdings in Medtronic were worth $3,749,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MDT. Mainstream Capital Management LLC acquired a new position in Medtronic during the 4th quarter worth about $26,000. Darwin Wealth Management LLC acquired a new position in shares of Medtronic in the third quarter worth approximately $27,000. Stephens Consulting LLC boosted its holdings in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 204 shares during the last quarter. J. Stern & Co. LLP acquired a new stake in Medtronic during the 3rd quarter valued at approximately $30,000. Finally, Fiduciary Advisors Inc. acquired a new stake in Medtronic during the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analyst Weigh In

MDT has been the topic of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of Medtronic from $106.00 to $98.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 20th. Sanford C. Bernstein boosted their target price on shares of Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a report on Wednesday, November 20th. Robert W. Baird increased their price target on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. UBS Group boosted their price objective on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Finally, Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and raised their target price for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Medtronic presently has a consensus rating of "Hold" and a consensus target price of $96.07.

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Medtronic Stock Down 0.4 %

Shares of Medtronic stock traded down $0.36 during trading hours on Tuesday, reaching $93.44. The company's stock had a trading volume of 7,300,420 shares, compared to its average volume of 6,057,578. The company has a market capitalization of $119.85 billion, a P/E ratio of 28.40, a P/E/G ratio of 2.22 and a beta of 0.80. The stock's fifty day simple moving average is $88.89 and its two-hundred day simple moving average is $87.88. Medtronic plc has a one year low of $75.96 and a one year high of $96.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

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

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.00%. The ex-dividend date is Friday, March 28th. Medtronic's dividend payout ratio (DPR) is presently 85.11%.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company's stock.

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.