Medtronic plc (NYSE:MDT) Shares Bought by Asset Dedication LLC

Asset Dedication LLC increased its stake in Medtronic plc (NYSE:MDT) by 19.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,917 shares of the medical technology company’s stock after acquiring an additional 313 shares during the period. Asset Dedication LLC’s holdings in Medtronic were worth $153,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new stake in shares of Medtronic during the 3rd quarter worth $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic in the 3rd quarter worth about $27,000. Darwin Wealth Management LLC purchased a new position in shares of Medtronic in the 3rd quarter worth about $27,000. J. Stern & Co. LLP purchased a new stake in shares of Medtronic during the 3rd quarter worth about $30,000. Finally, Kieckhefer Group LLC acquired a new stake in Medtronic during the 4th quarter worth approximately $40,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Price Performance

Shares of MDT stock opened at $91.51 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $93.08. The firm has a fifty day moving average of $83.99 and a two-hundred day moving average of $85.83. The firm has a market cap of $117.34 billion, a P/E ratio of 27.98, a P/E/G ratio of 2.49 and a beta of 0.83.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 earnings per share. As a group, research analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently announced 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 was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.06%. Medtronic’s dividend payout ratio is currently 85.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Barclays boosted their price objective on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Robert W. Baird cut their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Monday, November 18th. Wells Fargo & Company dropped their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. decreased their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $95.00.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the sale, the executive vice president now directly owns 40,708 shares in the company, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.

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.