JB Capital LLC Purchases 6,381 Shares of Medtronic plc (NYSE:MDT)

JB Capital LLC raised its position in shares of Medtronic plc (NYSE:MDT) by 5.8% in the fourth quarter, Holdings Channel reports. The fund owned 116,877 shares of the medical technology company’s stock after buying an additional 6,381 shares during the quarter. JB Capital LLC’s holdings in Medtronic were worth $9,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in MDT. Fortitude Family Office LLC acquired a new stake in Medtronic in the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic in the third quarter valued at approximately $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic in the third quarter worth $27,000. J. Stern & Co. LLP bought a new position in Medtronic during the third quarter worth $30,000. Finally, Fiduciary Advisors Inc. acquired a new position in Medtronic during the 4th quarter valued at $36,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Robert W. Baird decreased their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Wells Fargo & Company decreased their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Barclays lifted their price objective on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Sanford C. Bernstein upped their target price on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Medtronic presently has an average rating of “Hold” and an average target price of $95.00.

Insiders Place Their Bets

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

Medtronic Stock Down 1.4 %

Shares of MDT opened at $90.74 on Monday. The company has a market capitalization of $116.35 billion, a P/E ratio of 27.75, a PEG ratio of 2.57 and a beta of 0.84. Medtronic plc has a one year low of $75.96 and a one year high of $93.08. The business’s 50 day simple moving average is $84.38 and its 200-day simple moving average is $86.06. 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 posted its quarterly earnings data 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 company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts predict that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed 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 3.09%. The ex-dividend date was Friday, December 27th. Medtronic’s 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.