2,873 Shares in Medtronic plc (NYSE:MDT) Acquired by Morey & Quinn Wealth Partners LLC

Morey & Quinn Wealth Partners LLC bought a new position in Medtronic plc (NYSE:MDT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,873 shares of the medical technology company's stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDT. Vanguard Group Inc. increased its stake in Medtronic by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company's stock worth $9,921,367,000 after acquiring an additional 754,395 shares during the last quarter. State Street Corp increased its position in Medtronic by 0.9% during 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 in the last quarter. Raymond James Financial Inc. purchased a new position in Medtronic in the fourth quarter valued at approximately $852,732,000. First Eagle Investment Management LLC lifted its position in Medtronic by 0.3% during the fourth quarter. First Eagle Investment Management LLC now owns 9,792,200 shares of the medical technology company's stock valued at $782,201,000 after buying an additional 28,910 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Medtronic by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,002,051 shares of the medical technology company's stock worth $639,204,000 after buying an additional 134,647 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MDT shares. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a report on Wednesday, February 19th. Robert W. Baird boosted their price objective on Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. UBS Group upped their target price on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $105.00 price objective on shares of Medtronic in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $96.07.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now directly owns 40,979 shares of the company's stock, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The sale 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 0.3 %

MDT stock traded down $0.30 during mid-day trading on Friday, hitting $87.98. 2,747,485 shares of the company were exchanged, compared to its average volume of 7,672,117. The company has a market capitalization of $112.84 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The firm has a fifty day simple moving average of $91.00 and a 200 day simple moving average of $88.05. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25.

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

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors 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 3.18%. The ex-dividend date is Friday, March 28th. Medtronic's dividend payout ratio (DPR) is presently 85.11%.

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.