Medtronic plc (NYSE:MDT) Shares Purchased by Schechter Investment Advisors LLC

Schechter Investment Advisors LLC raised its stake in Medtronic plc (NYSE:MDT) by 48.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,942 shares of the medical technology company’s stock after acquiring an additional 2,252 shares during the period. Schechter Investment Advisors LLC’s holdings in Medtronic were worth $555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in MDT. Copley Financial Group Inc. acquired a new stake in shares of Medtronic in the 3rd quarter valued at about $694,000. Olstein Capital Management L.P. lifted its stake in Medtronic by 19.2% in the third quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock valued at $7,833,000 after buying an additional 14,000 shares during the last quarter. Franklin Street Advisors Inc. NC boosted its holdings in shares of Medtronic by 32.6% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 73,517 shares of the medical technology company’s stock valued at $5,873,000 after acquiring an additional 18,057 shares during the period. Y Intercept Hong Kong Ltd grew its position 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 during the last quarter. Finally, Czech National Bank increased its holdings in shares of Medtronic by 6.4% in the 4th quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock valued at $22,212,000 after acquiring an additional 16,786 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Trading Down 1.3 %

Shares of MDT stock opened at $93.09 on Wednesday. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $95.57. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The business’s fifty day moving average price is $87.57 and its 200 day moving average price is $87.63. The firm has a market capitalization of $119.40 billion, a PE ratio of 28.30, a P/E/G ratio of 2.22 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted its quarterly 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 net margin of 12.83% and a return on equity of 14.07%. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. As a group, sell-side analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.70 per share. 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 3.01%. Medtronic’s payout ratio is 85.11%.

Insider Transactions at Medtronic

In other 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 transaction, the executive vice president now 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Robert W. Baird increased 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. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and boosted their price target for the company from $92.00 to $107.00 in a research report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Sanford C. Bernstein lifted 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $96.07.

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.