Medtronic plc (NYSE:MDT) Shares Acquired by Wallace Advisory Group LLC

Wallace Advisory Group LLC boosted its position in Medtronic plc (NYSE:MDT) by 12.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,157 shares of the medical technology company’s stock after purchasing an additional 933 shares during the period. Wallace Advisory Group LLC’s holdings in Medtronic were worth $652,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in MDT. Federated Hermes Inc. lifted its position in Medtronic by 5.7% in the second quarter. Federated Hermes Inc. now owns 195,324 shares of the medical technology company’s stock valued at $15,374,000 after purchasing an additional 10,586 shares during the period. Thoroughbred Financial Services LLC lifted its position in shares of Medtronic by 15.4% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 5,357 shares of the medical technology company’s stock valued at $421,000 after acquiring an additional 714 shares during the period. Bcwm LLC lifted its position in shares of Medtronic by 3.3% during the 2nd quarter. Bcwm LLC now owns 113,667 shares of the medical technology company’s stock valued at $8,947,000 after acquiring an additional 3,601 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Medtronic by 7.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock valued at $560,494,000 after acquiring an additional 515,751 shares during the period. Finally, One Capital Management LLC acquired a new stake in shares of Medtronic during the 2nd quarter valued at approximately $245,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MDT shares. Citigroup lifted their price target on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Wells Fargo & Company reduced their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Barclays lifted their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Finally, Sanford C. Bernstein lifted their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Medtronic presently has a consensus rating of “Hold” and a consensus price target of $95.00.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were 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 owns 40,708 shares of the company’s stock, 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 at the SEC website. Insiders own 0.20% of the company’s stock.

Medtronic Stock Up 1.3 %

Shares of NYSE MDT opened at $81.68 on Tuesday. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The firm has a fifty day moving average of $83.83 and a 200-day moving average of $84.96. The stock has a market capitalization of $104.74 billion, a PE ratio of 24.98, a P/E/G ratio of 2.33 and a beta of 0.83. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51.

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

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.43%. Medtronic’s dividend payout ratio is currently 85.63%.

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.