Crossmark Global Holdings Inc. Grows Stock Holdings in Medtronic plc (NYSE:MDT)

Crossmark Global Holdings Inc. lifted its position in Medtronic plc (NYSE:MDT - Free Report) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 355,408 shares of the medical technology company's stock after purchasing an additional 18,310 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Medtronic were worth $28,390,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC purchased a new stake in shares of Medtronic during the 3rd quarter valued at approximately $27,000. Darwin Wealth Management LLC purchased a new stake in Medtronic in the third quarter valued at $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic in the 3rd quarter valued at $27,000. J. Stern & Co. LLP purchased a new position in shares of Medtronic during the 3rd quarter worth $30,000. Finally, Chelsea Counsel Co. acquired a new stake in shares of Medtronic during the 3rd quarter worth about $45,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MDT has been the topic of a number of recent analyst reports. Robert W. Baird decreased their target price on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 20th. JPMorgan Chase & Co. lowered their price objective on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating for the company in a research report on Friday, November 15th. Evercore ISI boosted their target price on Medtronic from $100.00 to $104.00 and gave the company an "outperform" rating in a research report on Tuesday, October 1st. Barclays raised 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. Finally, Wells Fargo & Company cut their price objective on Medtronic from $106.00 to $98.00 and set an "overweight" rating on the stock in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $95.00.

Medtronic Stock Up 0.3 %

Shares of MDT traded up $0.27 during midday trading on Tuesday, reaching $88.35. The stock had a trading volume of 8,375,484 shares, compared to its average volume of 8,484,347. 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 company's fifty day simple moving average is $83.64 and its two-hundred day simple moving average is $85.29. The company has a market cap of $113.29 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 2.49 and a beta of 0.83. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $92.68.

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

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.17%. The ex-dividend date was Friday, December 27th. Medtronic's payout ratio is 85.63%.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the business's stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the sale, the executive vice president now owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company's stock.

About Medtronic

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.