Noesis Capital Mangement Corp Increases Stock Position in Medtronic plc (NYSE:MDT)

Noesis Capital Mangement Corp boosted its stake in Medtronic plc (NYSE:MDT) by 2.6% during the fourth quarter, HoldingsChannel reports. The firm owned 103,919 shares of the medical technology company’s stock after buying an additional 2,653 shares during the period. Medtronic comprises about 1.6% of Noesis Capital Mangement Corp’s portfolio, making the stock its 27th biggest holding. Noesis Capital Mangement Corp’s holdings in Medtronic were worth $8,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Copley Financial Group Inc. purchased a new position in shares of Medtronic during the third quarter worth approximately $694,000. Olstein Capital Management L.P. raised its stake in shares of Medtronic by 19.2% during the third quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock worth $7,833,000 after acquiring an additional 14,000 shares in the last quarter. Franklin Street Advisors Inc. NC raised its stake in shares of Medtronic by 32.6% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock worth $5,873,000 after acquiring an additional 18,057 shares in the last quarter. Y Intercept Hong Kong Ltd raised its stake in shares of Medtronic by 322.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock worth $6,626,000 after acquiring an additional 56,178 shares in the last quarter. Finally, Czech National Bank raised its stake in shares of Medtronic by 6.4% during the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock worth $22,212,000 after acquiring an additional 16,786 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Price Performance

Shares of NYSE MDT opened at $92.00 on Friday. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08. The stock has a market capitalization of $117.97 billion, a P/E ratio of 27.96, a P/E/G ratio of 2.22 and a beta of 0.84. The company’s 50-day moving average is $87.08 and its 200 day moving average is $87.42. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. On average, sell-side analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders 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 yield of 3.04%. Medtronic’s dividend payout ratio (DPR) is 85.11%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on MDT shares. Sanford C. Bernstein lifted their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 price target on shares of Medtronic in a research note on Wednesday, February 19th. Wells Fargo & Company decreased their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Robert W. Baird lifted their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $95.00.

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.