Godsey & Gibb Inc. Acquires 4,725 Shares of Medtronic plc (NYSE:MDT)

Godsey & Gibb Inc. grew its holdings in shares of Medtronic plc (NYSE:MDT) by 2.1% in the 4th quarter, Holdings Channel reports. The fund owned 233,086 shares of the medical technology company’s stock after buying an additional 4,725 shares during the period. Godsey & Gibb Inc.’s holdings in Medtronic were worth $18,619,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MDT. Advisors Management Group Inc. ADV increased its position in Medtronic by 13.3% during the 4th quarter. Advisors Management Group Inc. ADV now owns 50,775 shares of the medical technology company’s stock worth $4,056,000 after purchasing an additional 5,942 shares in the last quarter. Burney Co. increased its holdings in shares of Medtronic by 6.4% during the fourth quarter. Burney Co. now owns 9,169 shares of the medical technology company’s stock worth $732,000 after buying an additional 555 shares in the last quarter. Wolff Wiese Magana LLC lifted its stake in shares of Medtronic by 5.3% in the 4th quarter. Wolff Wiese Magana LLC now owns 17,968 shares of the medical technology company’s stock valued at $1,435,000 after acquiring an additional 906 shares during the last quarter. Laurel Wealth Advisors LLC boosted its holdings in shares of Medtronic by 9.3% during the 4th quarter. Laurel Wealth Advisors LLC now owns 10,838 shares of the medical technology company’s stock valued at $866,000 after acquiring an additional 925 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Medtronic by 34.6% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 16,391 shares of the medical technology company’s stock worth $1,309,000 after acquiring an additional 4,212 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Medtronic Stock Up 0.1 %

Shares of NYSE:MDT opened at $85.33 on Thursday. The business’s 50-day moving average is $83.74 and its 200-day moving average is $85.01. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $92.68. The company has a market capitalization of $109.42 billion, a price-to-earnings ratio of 26.09, a P/E/G ratio of 2.33 and a beta of 0.83. 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 (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the business earned $1.25 EPS. Equities research analysts predict that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.28%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is currently 85.63%.

Analyst Upgrades and Downgrades

MDT has been the subject of several research reports. Citigroup increased their target price on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. dropped their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Barclays boosted their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Sanford C. Bernstein raised their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Finally, Robert W. Baird cut their price target on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Medtronic has an average rating of “Hold” and an average target price of $95.00.

About Medtronic

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.