Medtronic plc (NYSE:MDT) Shares Acquired by Procyon Advisors LLC

Procyon Advisors LLC grew its position in Medtronic plc (NYSE:MDT) by 17.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 19,197 shares of the medical technology company’s stock after buying an additional 2,795 shares during the period. Procyon Advisors LLC’s holdings in Medtronic were worth $1,533,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Everpar Advisors LLC boosted its position in shares of Medtronic by 3.7% during the fourth quarter. Everpar Advisors LLC now owns 6,427 shares of the medical technology company’s stock worth $513,000 after buying an additional 228 shares during the period. Empirical Asset Management LLC bought a new stake in Medtronic during the 4th quarter valued at $1,540,000. Central Valley Advisors LLC boosted its position in Medtronic by 4.2% during the 4th quarter. Central Valley Advisors LLC now owns 15,402 shares of the medical technology company’s stock worth $1,230,000 after acquiring an additional 625 shares during the period. Cypress Wealth Services LLC boosted its position in Medtronic by 6.6% during the 4th quarter. Cypress Wealth Services LLC now owns 6,976 shares of the medical technology company’s stock worth $557,000 after acquiring an additional 431 shares during the period. Finally, Ritholtz Wealth Management grew its stake in shares of Medtronic by 282.6% in the fourth quarter. Ritholtz Wealth Management now owns 54,485 shares of the medical technology company’s stock worth $4,352,000 after purchasing an additional 40,243 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of the company’s stock in a transaction dated 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 in the company, valued at $3,273,330.28. This represents a 19.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MDT. Citigroup upped their price objective on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. reduced their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Sanford C. Bernstein raised their price objective on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Robert W. Baird cut their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, November 20th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $95.00.

Medtronic Trading Up 1.2 %

NYSE:MDT opened at $88.23 on Friday. The stock has a fifty day simple moving average of $83.63 and a 200 day simple moving average of $85.03. The firm has a market capitalization of $113.13 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 2.28 and a beta of 0.83. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $92.68. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51.

Medtronic (NYSE:MDT) last announced its earnings results 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. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period last year, the company posted $1.25 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts forecast that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.17%. Medtronic’s payout ratio is currently 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.