Medtronic plc (NYSE:MDT) Shares Purchased by Simmons Bank

Simmons Bank increased its position in shares of Medtronic plc (NYSE:MDT) by 6.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,810 shares of the medical technology company’s stock after purchasing an additional 550 shares during the period. Simmons Bank’s holdings in Medtronic were worth $704,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MDT. Assenagon Asset Management S.A. grew its stake in shares of Medtronic by 1.8% during the third quarter. Assenagon Asset Management S.A. now owns 58,474 shares of the medical technology company’s stock worth $5,264,000 after purchasing an additional 1,034 shares in the last quarter. Modera Wealth Management LLC grew its stake in shares of Medtronic by 23.2% during the third quarter. Modera Wealth Management LLC now owns 3,221 shares of the medical technology company’s stock worth $290,000 after purchasing an additional 606 shares in the last quarter. Orrstown Financial Services Inc. acquired a new position in shares of Medtronic during the third quarter worth $211,000. Pallas Capital Advisors LLC boosted its stake in Medtronic by 48.0% in the third quarter. Pallas Capital Advisors LLC now owns 11,554 shares of the medical technology company’s stock valued at $1,051,000 after acquiring an additional 3,747 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new position in Medtronic in the third quarter valued at $27,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity

In other news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on MDT. Robert W. Baird upped their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. UBS Group upped their price objective on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Sanford C. Bernstein upped 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. Barclays upped 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. Finally, Wells Fargo & Company decreased their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company 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 given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Trading Up 0.1 %

Shares of Medtronic stock opened at $90.58 on Thursday. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $93.08. 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 stock has a market cap of $116.15 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84. The company has a 50-day moving average of $86.65 and a two-hundred day moving average of $87.32.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The company had revenue of $8.29 billion during 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%. On average, research analysts anticipate that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.09%. Medtronic’s dividend payout ratio is presently 85.11%.

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.