Signet Investment Advisory Group Inc. Buys 600 Shares of Medtronic plc (NYSE:MDT)

Signet Investment Advisory Group Inc. increased its stake in Medtronic plc (NYSE:MDT) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,977 shares of the medical technology company’s stock after acquiring an additional 600 shares during the quarter. Signet Investment Advisory Group Inc.’s holdings in Medtronic were worth $1,756,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MDT. Fortitude Family Office LLC bought a new stake in shares of Medtronic in the 3rd quarter valued at $27,000. Highline Wealth Partners LLC acquired a new position in Medtronic in the third quarter valued at $27,000. Darwin Wealth Management LLC acquired a new position in Medtronic in the third quarter valued at $27,000. Stephens Consulting LLC boosted its position in Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 204 shares during the last quarter. Finally, J. Stern & Co. LLP acquired a new stake in Medtronic during the 3rd quarter worth about $30,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Trading Up 0.4 %

MDT opened at $91.18 on Wednesday. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $93.08. The firm has a market capitalization of $116.92 billion, a PE ratio of 27.88, a P/E/G ratio of 2.57 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The company’s 50-day moving average is $84.93 and its 200 day moving average is $86.56.

Medtronic (NYSE:MDT) last issued 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. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.25 earnings per share. As a group, research analysts predict that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is 85.63%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MDT shares. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. JPMorgan Chase & Co. dropped their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Robert W. Baird reduced their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Barclays lifted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company cut their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $95.00.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, the executive vice president now owns 40,979 shares of the company’s stock, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

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.