Ashton Thomas Private Wealth LLC Acquires 9,181 Shares of Medtronic plc (NYSE:MDT)

Ashton Thomas Private Wealth LLC increased its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 68.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,576 shares of the medical technology company's stock after acquiring an additional 9,181 shares during the quarter. Ashton Thomas Private Wealth LLC's holdings in Medtronic were worth $1,819,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Medtronic by 0.9% in the 3rd quarter. State Street Corp now owns 60,731,367 shares of the medical technology company's stock worth $5,509,155,000 after purchasing an additional 520,027 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Medtronic in the 4th quarter worth about $852,732,000. Pzena Investment Management LLC boosted its stake in Medtronic by 3.3% during the 3rd quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company's stock valued at $772,727,000 after purchasing an additional 275,870 shares during the period. Charles Schwab Investment Management Inc. grew its position in Medtronic by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,002,051 shares of the medical technology company's stock worth $639,204,000 after purchasing an additional 134,647 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Medtronic by 436.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company's stock valued at $661,125,000 after buying an additional 5,975,110 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

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Analyst Upgrades and Downgrades

MDT has been the topic of several analyst reports. 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. Barclays increased their target price on shares of Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a research report on Tuesday, November 26th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. JPMorgan Chase & Co. decreased their target price on Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a research note on Friday, November 15th. Finally, UBS Group boosted their price target on shares of Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $96.07.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company's stock in a transaction 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 $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Medtronic Stock Down 1.8 %

NYSE:MDT traded down $1.71 on Wednesday, hitting $91.58. 6,016,312 shares of the company's stock were exchanged, compared to its average volume of 6,054,255. The firm has a 50-day moving average price of $88.89 and a 200-day moving average price of $87.88. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. 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 company has a market cap of $117.45 billion, a P/E ratio of 27.83, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80.

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

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.06%. The ex-dividend date is Friday, March 28th. Medtronic's payout ratio is 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.