MONECO Advisors LLC Boosts Stake in Medtronic plc (NYSE:MDT)

MONECO Advisors LLC boosted its position in shares of Medtronic plc (NYSE:MDT) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,408 shares of the medical technology company’s stock after purchasing an additional 115 shares during the period. MONECO Advisors LLC’s holdings in Medtronic were worth $512,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MDT. Assenagon Asset Management S.A. raised its stake in shares of Medtronic by 1.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 58,474 shares of the medical technology company’s stock valued at $5,264,000 after acquiring an additional 1,034 shares during the period. Allworth Financial LP raised its stake in shares of Medtronic by 11.2% in the 3rd quarter. Allworth Financial LP now owns 28,353 shares of the medical technology company’s stock valued at $2,553,000 after acquiring an additional 2,859 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Medtronic by 19.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 84,497 shares of the medical technology company’s stock valued at $7,547,000 after acquiring an additional 13,952 shares during the period. Modera Wealth Management LLC raised its stake in shares of Medtronic by 23.2% in the 3rd quarter. Modera Wealth Management LLC now owns 3,221 shares of the medical technology company’s stock valued at $290,000 after acquiring an additional 606 shares during the period. Finally, Clear Harbor Asset Management LLC raised its stake in shares of Medtronic by 1.2% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after acquiring an additional 111 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Trading Up 0.4 %

Shares of NYSE:MDT opened at $90.27 on Tuesday. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $93.08. The company’s 50 day moving average is $86.26 and its two-hundred day moving average is $87.24. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The company has a market cap of $115.76 billion, a PE ratio of 27.44, a P/E/G ratio of 2.22 and a beta of 0.84.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Equities analysts predict that Medtronic plc will post 5.46 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 given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is 85.11%.

Analysts Set New Price Targets

MDT has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Robert W. Baird upped their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Wells Fargo & Company cut their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Sanford C. Bernstein upped their target price on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $95.00.

Insider Activity at Medtronic

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