Medtronic plc (NYSE:MDT) Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC grew its holdings in Medtronic plc (NYSE:MDT) by 50.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,522 shares of the medical technology company’s stock after purchasing an additional 19,242 shares during the quarter. Farther Finance Advisors LLC’s holdings in Medtronic were worth $4,595,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Copley Financial Group Inc. acquired a new stake in shares of Medtronic in the third quarter valued at approximately $694,000. Franklin Street Advisors Inc. NC grew its position 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 purchasing an additional 18,057 shares during the last quarter. Y Intercept Hong Kong Ltd grew its position in shares of Medtronic by 322.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock valued at $6,626,000 after purchasing an additional 56,178 shares during the last quarter. Olstein Capital Management L.P. grew its position in shares of Medtronic by 8.0% in the fourth quarter. Olstein Capital Management L.P. now owns 94,000 shares of the medical technology company’s stock valued at $7,509,000 after purchasing an additional 7,000 shares during the last quarter. Finally, Czech National Bank boosted its position in Medtronic by 6.4% during the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock worth $22,212,000 after acquiring an additional 16,786 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction on 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 sale, 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 accessible through the SEC website. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on MDT shares. Sanford C. Bernstein raised their target price on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. UBS Group raised their target price on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and raised their target price for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Royal Bank of Canada restated an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Medtronic presently has an average rating of “Hold” and an average target price of $96.07.

Medtronic Stock Performance

Shares of MDT stock opened at $91.58 on Thursday. The company’s fifty day simple moving average is $89.12 and its 200-day simple moving average is $87.91. Medtronic plc has a 52 week low of $75.96 and a 52 week high of $96.25. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The company has a market cap of $117.45 billion, a PE ratio of 27.83, a P/E/G ratio of 2.22 and a beta of 0.80.

Medtronic (NYSE:MDT) last issued 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. 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 the consensus estimate of $8.33 billion. As a group, equities research analysts anticipate that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s dividend payout ratio (DPR) is 85.11%.

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.