Simon Quick Advisors LLC Raises Stock Position in Medtronic plc (NYSE:MDT)

Simon Quick Advisors LLC boosted its stake in Medtronic plc (NYSE:MDT) by 35.5% in the 4th quarter, Holdings Channel reports. The firm owned 5,160 shares of the medical technology company’s stock after buying an additional 1,353 shares during the quarter. Simon Quick Advisors LLC’s holdings in Medtronic were worth $412,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Red Spruce Capital LLC boosted its stake in shares of Medtronic by 18.7% in the fourth quarter. Red Spruce Capital LLC now owns 22,552 shares of the medical technology company’s stock valued at $1,801,000 after purchasing an additional 3,552 shares during the period. MCF Advisors LLC increased its position in shares of Medtronic by 22.8% during the fourth quarter. MCF Advisors LLC now owns 1,395 shares of the medical technology company’s stock worth $112,000 after acquiring an additional 259 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Medtronic by 7.4% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 2,805,409 shares of the medical technology company’s stock worth $224,096,000 after acquiring an additional 194,010 shares in the last quarter. LifePlan Financial LLC boosted its holdings in Medtronic by 3.8% in the fourth quarter. LifePlan Financial LLC now owns 22,327 shares of the medical technology company’s stock valued at $1,783,000 after purchasing an additional 822 shares during the last quarter. Finally, Clear Harbor Asset Management LLC grew its stake in Medtronic by 3.1% during the 4th quarter. Clear Harbor Asset Management LLC now owns 9,855 shares of the medical technology company’s stock valued at $787,000 after purchasing an additional 297 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 9,850 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction 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 trade represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MDT shares. JPMorgan Chase & Co. cut 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. Evercore ISI raised their price objective on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Wells Fargo & Company decreased their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Finally, Citigroup boosted their price objective on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $95.00.

Medtronic Trading Up 1.7 %

Shares of NYSE:MDT opened at $89.30 on Friday. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week 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. The company has a market cap of $114.51 billion, a PE ratio of 27.31, a P/E/G ratio of 2.50 and a beta of 0.83. The company’s 50-day moving average price is $83.64 and its 200 day moving average price is $85.39.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the firm posted $1.25 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. Sell-side analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders 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 dividend yield of 3.14%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is 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.