Medtronic plc (NYSE:MDT) Stock Holdings Raised by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its position in shares of Medtronic plc (NYSE:MDT - Free Report) by 282.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,485 shares of the medical technology company's stock after acquiring an additional 40,243 shares during the quarter. Ritholtz Wealth Management's holdings in Medtronic were worth $4,352,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Beech Hill Advisors Inc. increased its holdings in Medtronic by 5.5% during the 4th quarter. Beech Hill Advisors Inc. now owns 48,306 shares of the medical technology company's stock valued at $3,859,000 after acquiring an additional 2,519 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Medtronic during the 4th quarter worth approximately $280,000. StrongBox Wealth LLC raised its position in shares of Medtronic by 3.6% during the 4th quarter. StrongBox Wealth LLC now owns 16,701 shares of the medical technology company's stock worth $1,334,000 after purchasing an additional 576 shares during the last quarter. Steph & Co. lifted its stake in Medtronic by 1,736.2% in the 4th quarter. Steph & Co. now owns 1,065 shares of the medical technology company's stock valued at $85,000 after buying an additional 1,007 shares in the last quarter. Finally, Winch Advisory Services LLC grew its holdings in Medtronic by 4.3% during the 4th quarter. Winch Advisory Services LLC now owns 9,361 shares of the medical technology company's stock valued at $748,000 after buying an additional 385 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Trading Up 1.2 %

NYSE:MDT traded up $1.07 on Friday, hitting $88.23. 9,577,939 shares of the stock were exchanged, compared to its average volume of 8,494,167. The stock has a fifty day moving average of $83.63 and a 200-day moving average of $85.03. The stock has a market cap of $113.13 billion, a PE ratio of 26.98, a PEG ratio of 2.28 and a beta of 0.83. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68.

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

Medtronic Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Needham & Company LLC restated a "hold" rating on shares of Medtronic in a research report on Monday, November 18th. Robert W. Baird reduced their target price on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating on the stock in a report on Wednesday, November 20th. Citigroup lifted their price target on shares of Medtronic from $85.00 to $92.00 and gave the stock a "neutral" rating in a report on Tuesday, October 1st. Royal Bank of Canada raised shares of Medtronic from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Finally, Evercore ISI raised their target price on shares of Medtronic from $100.00 to $104.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $95.00.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the firm's stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the sale, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.20% of the company's stock.

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.