Diversify Wealth Management LLC Purchases 14,934 Shares of Medtronic plc (NYSE:MDT)

Diversify Wealth Management LLC boosted its position in shares of Medtronic plc (NYSE:MDT) by 48.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 45,804 shares of the medical technology company’s stock after purchasing an additional 14,934 shares during the period. Diversify Wealth Management LLC’s holdings in Medtronic were worth $3,695,000 at the end of the most recent reporting period.

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

Medtronic Stock Up 1.2 %

Shares of Medtronic stock opened at $88.23 on Monday. The company’s 50 day moving average price is $83.64 and its 200-day moving average price is $85.16. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The stock has a market capitalization of $113.13 billion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 2.28 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 earnings per share (EPS) for the quarter, beating 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 net margin of 13.00% and a return on equity of 13.79%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.25 earnings per share. Equities research analysts forecast that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.17%. Medtronic’s dividend payout ratio is currently 85.63%.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of research reports. Sanford C. Bernstein boosted their price target 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. Citigroup increased their target price on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Barclays upped their price objective on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Evercore ISI raised their price objective on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $95.00.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the sale, the executive vice president now owns 40,708 shares of the company’s stock, valued at approximately $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.