LVW Advisors LLC Grows Stock Holdings in Medtronic plc (NYSE:MDT)

LVW Advisors LLC raised its position in shares of Medtronic plc (NYSE:MDT) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,707 shares of the medical technology company’s stock after purchasing an additional 1,358 shares during the period. LVW Advisors LLC’s holdings in Medtronic were worth $1,574,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Gilman Hill Asset Management LLC increased its holdings in shares of Medtronic by 2.5% in the fourth quarter. Gilman Hill Asset Management LLC now owns 41,924 shares of the medical technology company’s stock worth $3,349,000 after buying an additional 1,016 shares during the period. Hall Laurie J Trustee increased its holdings in shares of Medtronic by 2.9% in the fourth quarter. Hall Laurie J Trustee now owns 45,350 shares of the medical technology company’s stock worth $3,622,000 after buying an additional 1,290 shares during the period. Grove Bank & Trust increased its holdings in shares of Medtronic by 7.6% in the fourth quarter. Grove Bank & Trust now owns 10,017 shares of the medical technology company’s stock worth $800,000 after buying an additional 704 shares during the period. Ballast Inc. increased its holdings in shares of Medtronic by 21.2% in the fourth quarter. Ballast Inc. now owns 12,070 shares of the medical technology company’s stock worth $964,000 after buying an additional 2,114 shares during the period. Finally, Liberty One Investment Management LLC increased its holdings in shares of Medtronic by 7.7% in the fourth quarter. Liberty One Investment Management LLC now owns 50,861 shares of the medical technology company’s stock worth $4,063,000 after buying an additional 3,640 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MDT shares. Wells Fargo & Company decreased their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. JPMorgan Chase & Co. cut their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Citigroup raised their target price on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Finally, Barclays raised their target price on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $95.00.

Medtronic Stock Performance

Shares of MDT opened at $88.23 on Monday. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average price is $83.64 and its 200-day moving average price is $85.16. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68. The stock has a market cap of $113.13 billion, a P/E ratio of 26.98, a P/E/G ratio of 2.28 and a beta of 0.83.

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

Medtronic Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 3.17%. 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.