Clark & Stuart Inc Acquires New Position in Medtronic plc (NYSE:MDT)

Clark & Stuart Inc bought a new position in shares of Medtronic plc (NYSE:MDT) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 6,327 shares of the medical technology company’s stock, valued at approximately $509,000.

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

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. This represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Citigroup raised their target price on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Barclays upped their price objective on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Finally, Wells Fargo & Company lowered 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Trading Down 2.5 %

Medtronic stock opened at $80.62 on Monday. Medtronic plc has a 12-month low of $75.96 and a 12-month high of $92.68. The stock has a market capitalization of $103.38 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83. The firm has a 50 day simple moving average of $83.99 and a 200-day simple moving average of $84.95. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last issued its quarterly 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 during the quarter, compared to analyst estimates of $8.27 billion. During the same period last year, the company posted $1.25 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts expect that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is presently 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.