Lynch & Associates IN Raises Stake in Medtronic plc (NYSE:MDT)

Lynch & Associates IN raised its position in shares of Medtronic plc (NYSE:MDT) by 26.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,259 shares of the medical technology company’s stock after purchasing an additional 1,935 shares during the period. Lynch & Associates IN’s holdings in Medtronic were worth $740,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. HBW Advisory Services LLC boosted its holdings in Medtronic by 0.9% in the 4th quarter. HBW Advisory Services LLC now owns 34,284 shares of the medical technology company’s stock worth $2,739,000 after buying an additional 299 shares during the period. 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 worth $5,873,000 after acquiring an additional 18,057 shares during the period. Hilltop National Bank raised its stake in shares of Medtronic by 1.9% during the 4th quarter. Hilltop National Bank now owns 22,781 shares of the medical technology company’s stock valued at $1,820,000 after purchasing an additional 424 shares during the period. ST Germain D J Co. Inc. boosted its stake in Medtronic by 2.3% in the 4th quarter. ST Germain D J Co. Inc. now owns 81,301 shares of the medical technology company’s stock worth $6,494,000 after purchasing an additional 1,796 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Medtronic by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 365,780 shares of the medical technology company’s stock valued at $29,219,000 after buying an additional 4,371 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Price Performance

MDT stock traded down $2.06 during trading on Friday, hitting $80.62. 7,067,072 shares of the company’s stock traded hands, compared to its average volume of 7,402,274. The business has a fifty day simple moving average of $84.17 and a 200 day simple moving average of $84.89. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $92.68. 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 stock has a market capitalization of $103.38 billion, a price-to-earnings ratio of 24.65, a P/E/G ratio of 2.33 and a beta of 0.83.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 EPS. As a group, research analysts expect that Medtronic plc will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be paid a $0.70 dividend. The ex-dividend date is Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.47%. Medtronic’s payout ratio is 85.63%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Robert W. Baird decreased their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Wells Fargo & Company lowered their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Sanford C. Bernstein upped their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Finally, Evercore ISI boosted their price target on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research 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, Medtronic has a consensus rating of “Hold” and a consensus target price 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.