Franklin Street Advisors Inc. NC Buys 18,057 Shares of Medtronic plc (NYSE:MDT)

Franklin Street Advisors Inc. NC grew its position in Medtronic plc (NYSE:MDT) by 32.6% in the fourth quarter, Holdings Channel reports. The fund owned 73,517 shares of the medical technology company’s stock after acquiring an additional 18,057 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Medtronic were worth $5,873,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC acquired a new stake in Medtronic during the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic in the 3rd quarter valued at about $27,000. Darwin Wealth Management LLC acquired a new stake in Medtronic in the third quarter worth $27,000. J. Stern & Co. LLP acquired a new position in Medtronic during the 3rd quarter worth approximately $30,000. Finally, Chelsea Counsel Co. bought a new position in Medtronic in the third quarter worth approximately $45,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on MDT shares. Evercore ISI upped their target price on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Robert W. Baird lowered their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Wells Fargo & Company cut their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Finally, Citigroup increased their price target on Medtronic from $85.00 to $92.00 and gave the company a “neutral” 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Price Performance

NYSE MDT traded down $1.44 during trading hours on Friday, hitting $81.24. The company had a trading volume of 2,590,962 shares, compared to its average volume of 6,596,525. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68. The firm has a market capitalization of $104.17 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 2.33 and a beta of 0.83. The firm has a 50 day simple moving average of $84.17 and a 200 day simple moving average of $84.89. 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 quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $8.27 billion. During the same quarter in the previous year, the business earned $1.25 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Equities research analysts expect that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, December 27th. Medtronic’s dividend payout ratio is presently 85.63%.

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.