Global View Capital Management LLC Purchases New Stake in Medtronic plc (NYSE:MDT)

Global View Capital Management LLC purchased a new stake in Medtronic plc (NYSE:MDT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,566 shares of the medical technology company’s stock, valued at approximately $527,000.

A number of other institutional investors have also recently modified their holdings of the business. S&CO Inc. boosted its stake in shares of Medtronic by 1.3% in the fourth quarter. S&CO Inc. now owns 118,523 shares of the medical technology company’s stock valued at $9,467,000 after buying an additional 1,548 shares in the last quarter. Dearborn Partners LLC boosted its stake in shares of Medtronic by 7.9% in the fourth quarter. Dearborn Partners LLC now owns 72,027 shares of the medical technology company’s stock valued at $5,754,000 after buying an additional 5,252 shares in the last quarter. Riverbend Wealth Management LLC purchased a new stake in shares of Medtronic in the fourth quarter valued at approximately $237,000. Morton Community Bank boosted its stake in shares of Medtronic by 2.1% in the fourth quarter. Morton Community Bank now owns 35,734 shares of the medical technology company’s stock valued at $2,854,000 after buying an additional 733 shares in the last quarter. Finally, Independent Advisor Alliance boosted its stake in shares of Medtronic by 25.3% in the fourth quarter. Independent Advisor Alliance now owns 54,907 shares of the medical technology company’s stock valued at $4,386,000 after buying an additional 11,075 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MDT has been the topic of a number of research analyst reports. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. JPMorgan Chase & Co. decreased their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. Finally, 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. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $96.07.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Medtronic Stock Performance

NYSE MDT opened at $93.75 on Tuesday. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The stock has a market cap of $120.24 billion, a price-to-earnings ratio of 28.50, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The business has a fifty day moving average of $88.62 and a 200-day moving average of $87.84. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

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

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.70 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a yield of 2.99%. Medtronic’s payout ratio is currently 85.11%.

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.