Robinson Value Management Ltd. Has $4.37 Million Stake in Medtronic plc (NYSE:MDT)

Robinson Value Management Ltd. lifted its position in shares of Medtronic plc (NYSE:MDT) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,708 shares of the medical technology company’s stock after buying an additional 657 shares during the period. Medtronic comprises 2.9% of Robinson Value Management Ltd.’s investment portfolio, making the stock its 6th largest position. Robinson Value Management Ltd.’s holdings in Medtronic were worth $4,370,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MDT. Visionary Horizons LLC increased its stake in Medtronic by 1.9% in the 4th quarter. Visionary Horizons LLC now owns 16,781 shares of the medical technology company’s stock worth $1,340,000 after purchasing an additional 313 shares during the period. Benedict Financial Advisors Inc. increased its stake in Medtronic by 0.3% in the 4th quarter. Benedict Financial Advisors Inc. now owns 73,757 shares of the medical technology company’s stock worth $5,892,000 after purchasing an additional 243 shares during the period. Richard C. Young & CO. LTD. increased its stake in Medtronic by 1.0% in the 4th quarter. Richard C. Young & CO. LTD. now owns 140,621 shares of the medical technology company’s stock worth $11,233,000 after purchasing an additional 1,389 shares during the period. WCM Investment Management LLC increased its stake in Medtronic by 146.3% in the 4th quarter. WCM Investment Management LLC now owns 47,940 shares of the medical technology company’s stock worth $3,817,000 after purchasing an additional 28,473 shares during the period. Finally, Entropy Technologies LP purchased a new position in Medtronic in the 4th quarter worth approximately $5,072,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on MDT. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. JPMorgan Chase & Co. reduced 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. Sanford C. Bernstein boosted their target price on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Barclays boosted their target price on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Finally, Robert W. Baird reduced their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Medtronic has a consensus rating of “Hold” and an average price target of $95.00.

Medtronic Price Performance

Shares of Medtronic stock opened at $90.01 on Friday. The stock has a 50 day moving average of $84.85 and a 200 day moving average of $86.38. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $93.08. The firm has a market cap of $115.42 billion, a PE ratio of 27.53, a PEG ratio of 2.57 and a beta of 0.84. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51.

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

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic 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 completion of the sale, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by corporate insiders.

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.