Advocate Group LLC Buys 4,897 Shares of Medtronic plc (NYSE:MDT)

Advocate Group LLC grew its stake in Medtronic plc (NYSE:MDT) by 4.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 106,776 shares of the medical technology company’s stock after acquiring an additional 4,897 shares during the quarter. Medtronic accounts for 1.6% of Advocate Group LLC’s holdings, making the stock its 21st biggest position. Advocate Group LLC’s holdings in Medtronic were worth $8,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Fortitude Family Office LLC bought a new stake in shares of Medtronic in the 3rd quarter valued at about $27,000. Darwin Wealth Management LLC acquired a new position in shares of Medtronic in the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic in the 3rd quarter valued at approximately $27,000. J. Stern & Co. LLP acquired a new position in shares of Medtronic in the 3rd quarter valued at approximately $30,000. Finally, Chelsea Counsel Co. acquired a new position in shares of Medtronic in the 3rd quarter valued at approximately $45,000. 82.06% of the stock is owned by institutional investors.

Insider Buying and Selling at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the sale, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

Medtronic Stock Up 0.9 %

MDT opened at $90.07 on Friday. The company has a market capitalization of $115.49 billion, a P/E ratio of 27.54, a P/E/G ratio of 2.49 and a beta of 0.83. The stock has a fifty day moving average of $83.75 and a 200-day moving average of $85.50. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the business posted $1.25 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities analysts expect that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is presently 85.63%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Barclays boosted their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Robert W. Baird decreased their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. JPMorgan Chase & Co. reduced their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Finally, Evercore ISI upped their price target on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. One 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Medtronic presently has a consensus rating of “Hold” and an average price target of $95.00.

Medtronic Company 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.