Medtronic plc (NYSE:MDT) Shares Bought by USA Financial Formulas

USA Financial Formulas grew its position in shares of Medtronic plc (NYSE:MDT) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,807 shares of the medical technology company’s stock after acquiring an additional 150 shares during the quarter. USA Financial Formulas’ holdings in Medtronic were worth $224,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of MDT. Fortitude Family Office LLC bought a new stake in shares of Medtronic during the third quarter valued at about $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic during the third quarter valued at about $27,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic during the third quarter valued at about $27,000. J. Stern & Co. LLP bought a new stake in shares of Medtronic during the third quarter valued at about $30,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Medtronic during the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the completion of the sale, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

Medtronic Trading Up 2.1 %

Shares of NYSE MDT opened at $87.19 on Friday. The stock has a market cap of $111.80 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 2.28 and a beta of 0.83. The business has a 50 day simple moving average of $83.65 and a 200 day simple moving average of $85.01. Medtronic plc has a 52 week low of $75.96 and a 52 week 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.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the previous year, the business posted $1.25 EPS. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, research analysts predict that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.21%. Medtronic’s dividend payout ratio (DPR) is currently 85.63%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. 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. Citigroup lifted their price objective on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Barclays lifted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. cut 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. Finally, Wells Fargo & Company dropped their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have given 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.com, the company has a consensus rating of “Hold” and a consensus target price of $95.00.

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.