Medtronic plc (NYSE:MDT) Shares Purchased by Nicholson Wealth Management Group LLC

Nicholson Wealth Management Group LLC lifted its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 185.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,491 shares of the medical technology company's stock after acquiring an additional 12,019 shares during the period. Nicholson Wealth Management Group LLC's holdings in Medtronic were worth $1,477,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Copley Financial Group Inc. purchased a new position in shares of Medtronic during the 3rd quarter worth about $694,000. Olstein Capital Management L.P. lifted its holdings in shares of Medtronic by 19.2% during the 3rd quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company's stock worth $7,833,000 after acquiring an additional 14,000 shares during the period. Franklin Street Advisors Inc. NC lifted its holdings in shares of Medtronic by 32.6% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company's stock worth $5,873,000 after acquiring an additional 18,057 shares during the period. Y Intercept Hong Kong Ltd lifted its holdings in shares of Medtronic by 322.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company's stock worth $6,626,000 after acquiring an additional 56,178 shares during the period. Finally, Czech National Bank lifted its holdings in shares of Medtronic by 6.4% during the 4th quarter. Czech National Bank now owns 278,065 shares of the medical technology company's stock worth $22,212,000 after acquiring an additional 16,786 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MDT. Royal Bank of Canada reiterated an "outperform" rating and set a $105.00 price objective on shares of Medtronic in a report on Wednesday. Wells Fargo & Company lowered their price objective on shares of Medtronic from $106.00 to $98.00 and set an "overweight" rating for the company in a research report on Wednesday, November 20th. Sanford C. Bernstein increased their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating 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. Finally, UBS Group raised 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. One 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, the company has an average rating of "Hold" and an average target price of $95.20.

Medtronic Stock Performance

MDT stock traded up $2.01 during mid-day trading on Friday, reaching $89.95. The company had a trading volume of 11,762,886 shares, compared to its average volume of 7,605,718. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $115.34 billion, a P/E ratio of 27.34, a P/E/G ratio of 2.46 and a beta of 0.84. Medtronic plc has a one year low of $75.96 and a one year high of $93.08. The stock's 50-day simple moving average is $85.93 and its two-hundred day simple moving average is $87.03.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.03. The company had revenue of $8.29 billion for the quarter, compared to analysts' expectations of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Research analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date was Friday, December 27th. Medtronic's dividend payout ratio (DPR) is 85.11%.

Insider Activity

In other news, EVP Brett A. Wall sold 9,850 shares of the firm's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the transaction, the executive vice president now directly owns 40,708 shares of the company's stock, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.