IFP Advisors Inc Buys 14,359 Shares of Medtronic PLC $MDT

IFP Advisors Inc boosted its holdings in shares of Medtronic PLC (NYSE:MDT) by 33.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,287 shares of the medical technology company’s stock after purchasing an additional 14,359 shares during the period. IFP Advisors Inc’s holdings in Medtronic were worth $5,503,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Lodestone Wealth Management LLC purchased a new position in Medtronic during the 4th quarter valued at about $27,000. Anfield Capital Management LLC increased its holdings in Medtronic by 410.7% during the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 230 shares during the period. Board of the Pension Protection Fund purchased a new position in Medtronic during the 4th quarter valued at about $29,000. GoalVest Advisory LLC purchased a new position in Medtronic during the 4th quarter valued at about $29,000. Finally, Valley Wealth Managers Inc. purchased a new position in Medtronic during the 3rd quarter valued at about $29,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

MDT has been the topic of a number of research analyst reports. Mizuho reduced their price target on Medtronic from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Evercore set a $106.00 price target on Medtronic and gave the company an “outperform” rating in a report on Thursday, April 9th. Needham & Company LLC reiterated a “buy” rating and set a $120.00 target price on shares of Medtronic in a report on Thursday, March 26th. Citigroup reduced their target price on Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Finally, UBS Group reduced their target price on Medtronic from $104.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, April 22nd. Fifteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $107.80.

Medtronic Stock Performance

Medtronic stock opened at $78.09 on Thursday. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $100.26 billion, a P/E ratio of 21.75, a PEG ratio of 1.87 and a beta of 0.62. The stock’s 50 day moving average is $83.94 and its 200 day moving average is $93.34. Medtronic PLC has a twelve month low of $74.40 and a twelve month high of $106.33.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.02. The business had revenue of $9.02 billion for the quarter, compared to analysts’ expectations of $8.89 billion. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.38 EPS. On average, equities research analysts predict that Medtronic PLC will post 5.56 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Friday, March 27th were given a $0.71 dividend. The ex-dividend date of this dividend was Friday, March 27th. This represents a $2.84 annualized dividend and a yield of 3.6%. Medtronic’s dividend payout ratio is 79.11%.

Medtronic News Roundup

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic announced plans to acquire privately held SPR Therapeutics for about $650 million in cash, a deal that should expand its neuromodulation franchise and add temporary peripheral nerve stimulation technology for chronic pain treatment. Article: Medtronic announces intent to acquire SPR Therapeutics, Inc., expanding care options for people living with chronic pain
• Positive Sentiment: Broader healthcare trading was mixed but stable, which suggests the stock’s move is more about company news than a sector-wide selloff. Article: Sector Update: Healthcare Stocks Mixed Late Afternoon
• Neutral Sentiment: Medtronic also named Kweli Thompson to lead its neuroscience portfolio, a leadership change that keeps attention on execution in one of its key growth businesses. Article: Medtronic, BD name new leaders
• Negative Sentiment: Investors appear to be weighing the $650 million cash outlay and integration risk from the SPR deal, which may be pressuring the shares in the near term. Article: Medtronic (MDT) Stock Slides as Company Announces $650M SPR Therapeutics Deal

Medtronic Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).