MSH Capital Advisors LLC Invests $1.14 Million in Medtronic plc (NYSE:MDT)

MSH Capital Advisors LLC acquired a new stake in Medtronic plc (NYSE:MDT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,327 shares of the medical technology company's stock, valued at approximately $1,144,000.

Several other institutional investors and hedge funds have also made changes to their positions in MDT. Mainstream Capital Management LLC bought a new position in shares of Medtronic in the 4th quarter worth about $26,000. Rakuten Securities Inc. grew its holdings in Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after buying an additional 294 shares in the last quarter. Stephens Consulting LLC grew its stake in shares of Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company's stock worth $27,000 after purchasing an additional 204 shares in the last quarter. Fiduciary Advisors Inc. acquired a new position in Medtronic during the 4th quarter valued at about $36,000. Finally, Chelsea Counsel Co. acquired a new position in shares of Medtronic during the third quarter valued at approximately $45,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. UBS Group upped their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Robert W. Baird increased their price target on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. Royal Bank of Canada reissued an "outperform" rating and issued a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $96.14.

Medtronic Stock Down 0.1 %

NYSE MDT traded down $0.12 on Friday, reaching $82.58. The stock had a trading volume of 5,937,486 shares, compared to its average volume of 6,674,143. The company has a market capitalization of $105.91 billion, a price-to-earnings ratio of 25.10, a P/E/G ratio of 2.22 and a beta of 0.79. 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 1 year low of $75.96 and a 1 year high of $96.25. The business has a 50 day moving average price of $88.91 and a 200 day moving average price of $87.42.

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

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Friday, March 28th. Medtronic's dividend payout ratio (DPR) is presently 85.11%.

Insider Transactions at Medtronic

In other 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 value of $1,119,330.00. Following the completion of the transaction, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This represents a 23.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company's stock.

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.