Larson Financial Group LLC Boosts Stock Holdings in Medtronic plc (NYSE:MDT)

Larson Financial Group LLC boosted its position in Medtronic plc (NYSE:MDT) by 20.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,635 shares of the medical technology company’s stock after purchasing an additional 4,960 shares during the period. Larson Financial Group LLC’s holdings in Medtronic were worth $2,367,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Mainstream Capital Management LLC bought a new stake in Medtronic during the 4th quarter valued at $26,000. Darwin Wealth Management LLC bought a new stake in Medtronic during the 3rd quarter valued at $27,000. Stephens Consulting LLC raised its holdings in Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 204 shares during the period. J. Stern & Co. LLP bought a new stake in Medtronic during the 3rd quarter valued at $30,000. Finally, Fiduciary Advisors Inc. bought a new stake in Medtronic during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 1.6 %

MDT opened at $94.58 on Friday. The stock has a market cap of $121.30 billion, a PE ratio of 28.75, a P/E/G ratio of 2.22 and a beta of 0.80. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $95.57. The business’s fifty day simple moving average is $88.33 and its 200 day simple moving average is $87.80.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. As a group, research analysts expect that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.70 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 2.96%. Medtronic’s dividend payout ratio is presently 85.11%.

Insider Activity 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 transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on MDT. UBS Group boosted their target price on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Barclays boosted their target price on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Sanford C. Bernstein upped their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Finally, Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and upped their price target for the stock from $92.00 to $107.00 in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eight have issued 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.com, Medtronic presently has a consensus rating of “Hold” and an average price target of $96.07.

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.