Forza Wealth Management LLC Purchases 403 Shares of Medtronic plc (NYSE:MDT)

Forza Wealth Management LLC raised its holdings in shares of Medtronic plc (NYSE:MDT) by 11.0% during the fourth quarter, Holdings Channel reports. The fund owned 4,064 shares of the medical technology company’s stock after buying an additional 403 shares during the period. Forza Wealth Management LLC’s holdings in Medtronic were worth $325,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Fortitude Family Office LLC bought a new stake in Medtronic in the third quarter worth $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic in the 3rd quarter valued at about $27,000. Darwin Wealth Management LLC bought a new position in Medtronic during the 3rd quarter worth approximately $27,000. J. Stern & Co. LLP purchased a new position in Medtronic in the 3rd quarter worth approximately $30,000. Finally, Kieckhefer Group LLC bought a new stake in Medtronic in the fourth quarter valued at approximately $40,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MDT has been the topic of several analyst reports. Sanford C. Bernstein lifted their target price 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. Barclays upped their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. 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 note on Wednesday, November 20th. Citigroup lifted their price objective on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Medtronic has an average rating of “Hold” and an average price target of $95.00.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total transaction of $792,038.50. Following the transaction, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by company insiders.

Medtronic Trading Up 1.4 %

NYSE:MDT traded up $1.10 during midday trading on Monday, hitting $81.76. The stock had a trading volume of 3,224,350 shares, compared to its average volume of 6,784,743. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average of $83.99 and a 200 day moving average of $84.95. The company has a market capitalization of $104.84 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 2.33 and a beta of 0.83. Medtronic plc has a one year low of $75.96 and a one year high of $92.68.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $8.27 billion. During the same quarter last year, the firm posted $1.25 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, sell-side analysts forecast that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

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 $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.42%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is 85.63%.

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.