Medtronic plc (NYSE:MDT) Stock Holdings Boosted by Precision Wealth Strategies LLC

Precision Wealth Strategies LLC grew its position in shares of Medtronic plc (NYSE:MDT) by 15.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,335 shares of the medical technology company’s stock after purchasing an additional 594 shares during the quarter. Precision Wealth Strategies LLC’s holdings in Medtronic were worth $346,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC bought a new stake in Medtronic in the third quarter worth about $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic in the 3rd quarter worth approximately $27,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic in the 3rd quarter worth approximately $27,000. J. Stern & Co. LLP bought a new stake in shares of Medtronic in the 3rd quarter worth approximately $30,000. Finally, Fiduciary Advisors Inc. acquired a new stake in Medtronic during the fourth quarter valued at approximately $36,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT opened at $90.74 on Friday. The company has a market capitalization of $116.35 billion, a PE ratio of 27.75, a PEG ratio of 2.59 and a beta of 0.83. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The company’s 50 day moving average price is $84.38 and its 200 day moving average price is $86.00. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $93.08.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating 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 business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the previous year, the company posted $1.25 EPS. Medtronic’s revenue was up 5.2% on a year-over-year basis. Research analysts expect that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s payout ratio is currently 85.63%.

Insider Transactions at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Sanford C. Bernstein upped their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Wells Fargo & Company cut 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. Barclays increased their price target on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Robert W. Baird dropped their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 20th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. One equities 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 given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $95.00.

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.