Medtronic plc (NYSE:MDT) Shares Acquired by Cohen Capital Management Inc.

Cohen Capital Management Inc. lifted its stake in Medtronic plc (NYSE:MDT) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,102 shares of the medical technology company’s stock after purchasing an additional 1,200 shares during the period. Cohen Capital Management Inc.’s holdings in Medtronic were worth $2,484,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MDT. TCW Group Inc. grew its holdings in Medtronic by 0.4% during the 4th quarter. TCW Group Inc. now owns 100,118 shares of the medical technology company’s stock worth $7,997,000 after acquiring an additional 445 shares in the last quarter. Fisher Funds Management LTD purchased a new position in shares of Medtronic in the 4th quarter valued at about $4,936,000. Olympiad Research LP purchased a new stake in Medtronic during the fourth quarter worth approximately $248,000. Sigma Planning Corp increased its stake in Medtronic by 38.3% in the fourth quarter. Sigma Planning Corp now owns 39,892 shares of the medical technology company’s stock valued at $3,187,000 after purchasing an additional 11,049 shares during the last quarter. Finally, Callan Capital LLC boosted its holdings in shares of Medtronic by 22.1% in the 4th quarter. Callan Capital LLC now owns 3,873 shares of the medical technology company’s stock valued at $309,000 after buying an additional 701 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MDT has been the subject of several research reports. UBS Group boosted their target price on Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. lowered their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Wells Fargo & Company reduced their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Sanford C. Bernstein lifted their price objective on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Finally, Barclays increased their target price on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Stock Performance

Shares of MDT stock opened at $89.95 on Friday. The stock has a fifty day moving average price of $86.08 and a 200 day moving average price of $87.14. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The stock has a market cap of $115.34 billion, a PE ratio of 27.34, a P/E/G ratio of 2.22 and a beta of 0.84. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Sell-side analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. Medtronic’s dividend payout ratio is presently 85.11%.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

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.