Smith Salley Wealth Management Buys 3,520 Shares of Medtronic plc (NYSE:MDT)

Smith Salley Wealth Management increased its stake in shares of Medtronic plc (NYSE:MDT - Free Report) by 2.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 176,688 shares of the medical technology company's stock after buying an additional 3,520 shares during the period. Smith Salley Wealth Management's holdings in Medtronic were worth $14,114,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of MDT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Medtronic by 436.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company's stock valued at $661,125,000 after purchasing an additional 5,975,110 shares during the period. Bank of Montreal Can raised its position in shares of Medtronic by 65.0% in the third quarter. Bank of Montreal Can now owns 4,546,819 shares of the medical technology company's stock valued at $406,122,000 after buying an additional 1,790,483 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Medtronic by 1,195.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company's stock valued at $144,637,000 after buying an additional 1,695,800 shares during the period. Janus Henderson Group PLC grew its position in Medtronic by 58.4% during the third quarter. Janus Henderson Group PLC now owns 3,850,914 shares of the medical technology company's stock worth $346,705,000 after buying an additional 1,420,263 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in Medtronic by 8,908.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company's stock worth $116,896,000 after acquiring an additional 1,284,002 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Citigroup increased their target price on Medtronic from $85.00 to $92.00 and gave the stock a "neutral" rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. reduced their price objective on shares of Medtronic from $99.00 to $96.00 and set a "neutral" rating on the stock in a research note on Friday, November 15th. Barclays boosted their target price on shares of Medtronic from $105.00 to $109.00 and gave the company an "overweight" rating in a research report on Tuesday, November 26th. Royal Bank of Canada upgraded shares of Medtronic from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. Finally, Sanford C. Bernstein lifted their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an "outperform" rating in a research note on Wednesday, November 20th. One 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. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $95.00.

Medtronic Trading Up 1.2 %

Shares of NYSE:MDT traded up $1.07 during midday trading on Friday, hitting $88.23. 9,577,939 shares of the stock were exchanged, compared to its average volume of 5,401,241. The business's 50-day moving average price is $83.64 and its 200 day moving average price is $85.16. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The stock has a market capitalization of $113.13 billion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 2.28 and a beta of 0.83.

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 for the quarter, topping analysts' consensus estimates of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 EPS. Analysts predict 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. Shareholders of record on Friday, December 27th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic's payout ratio is presently 85.63%.

Insider Buying and Selling at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the business's stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total value of $792,038.50. Following the transaction, the executive vice president now owns 40,708 shares in the company, valued at $3,273,330.28. The trade was a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate 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.