Medtronic plc (NYSE:MDT) Shares Purchased by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC raised its holdings in Medtronic plc (NYSE:MDT) by 4.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,410 shares of the medical technology company’s stock after purchasing an additional 3,182 shares during the period. Orion Portfolio Solutions LLC’s holdings in Medtronic were worth $6,104,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. FMR LLC increased its position in shares of Medtronic by 21.0% in the 3rd quarter. FMR LLC now owns 1,839,569 shares of the medical technology company’s stock worth $165,616,000 after purchasing an additional 319,256 shares during the last quarter. Fred Alger Management LLC increased its holdings in Medtronic by 6.9% in the third quarter. Fred Alger Management LLC now owns 36,801 shares of the medical technology company’s stock valued at $3,313,000 after buying an additional 2,390 shares during the last quarter. PDT Partners LLC bought a new stake in Medtronic in the third quarter valued at about $522,000. Edgestream Partners L.P. lifted its holdings in Medtronic by 682.9% during the 3rd quarter. Edgestream Partners L.P. now owns 23,737 shares of the medical technology company’s stock worth $2,137,000 after buying an additional 20,705 shares during the last quarter. Finally, Bellevue Group AG grew its position in shares of Medtronic by 0.7% in the 3rd quarter. Bellevue Group AG now owns 1,008,633 shares of the medical technology company’s stock worth $90,807,000 after acquiring an additional 6,886 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the transaction, the executive vice president now owns 40,979 shares of the company’s stock, valued at $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.20% of the company’s stock.

Medtronic Stock Down 1.5 %

Shares of Medtronic stock opened at $87.62 on Friday. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The company has a market capitalization of $112.38 billion, a P/E ratio of 26.63, a PEG ratio of 2.22 and a beta of 0.80. The business’s fifty day moving average price is $90.98 and its two-hundred day moving average price is $88.01. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. As a group, research analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MDT shares. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and upped their price target for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Royal Bank of Canada restated an “outperform” rating and issued a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Robert W. Baird boosted their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, UBS Group raised their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $96.07.

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.