Affiance Financial LLC Raises Stock Position in Medtronic plc (NYSE:MDT)

Affiance Financial LLC lifted its position in shares of Medtronic plc (NYSE:MDT) by 22.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,873 shares of the medical technology company’s stock after buying an additional 700 shares during the period. Affiance Financial LLC’s holdings in Medtronic were worth $309,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Fortitude Family Office LLC acquired a new position in Medtronic during the third quarter worth $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic in the third quarter valued at $27,000. Darwin Wealth Management LLC acquired a new position in shares of Medtronic during the 3rd quarter worth $27,000. J. Stern & Co. LLP acquired a new position in shares of Medtronic during the 3rd quarter worth $30,000. Finally, Kieckhefer Group LLC purchased a new stake in shares of Medtronic in the 4th quarter worth about $40,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity

In other news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the transaction, the executive vice president now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Medtronic Trading Up 0.9 %

NYSE MDT opened at $90.07 on Friday. The firm has a market capitalization of $115.49 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 2.49 and a beta of 0.83. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. Medtronic plc has a one year low of $75.96 and a one year high of $92.68. The company’s 50 day moving average price is $83.75 and its 200 day moving average price is $85.50.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter last year, the firm posted $1.25 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts predict that Medtronic plc will post 5.45 EPS for the current year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is 85.63%.

Analyst Ratings Changes

MDT has been the subject of a number of research reports. Royal Bank of Canada upgraded shares of Medtronic from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. Wells Fargo & Company cut their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. JPMorgan Chase & Co. lowered their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Barclays boosted their price target 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 lifted their target price on shares of Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Medtronic currently has an average rating of “Hold” and a consensus price target 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.