Franklin Parlapiano Turner & Welch LLC Raises Stock Position in Medtronic plc (NYSE:MDT)

Franklin Parlapiano Turner & Welch LLC lifted its position in Medtronic plc (NYSE:MDT) by 0.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,325 shares of the medical technology company’s stock after acquiring an additional 702 shares during the quarter. Medtronic accounts for 1.9% of Franklin Parlapiano Turner & Welch LLC’s portfolio, making the stock its 21st largest position. Franklin Parlapiano Turner & Welch LLC’s holdings in Medtronic were worth $6,975,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fortitude Family Office LLC bought a new stake in shares of Medtronic in the 3rd quarter worth about $27,000. Darwin Wealth Management LLC bought a new stake in Medtronic during the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC bought a new stake in Medtronic during the 3rd quarter valued at about $27,000. J. Stern & Co. LLP bought a new stake in shares of Medtronic in the 3rd quarter valued at about $30,000. Finally, Chelsea Counsel Co. bought a new stake in shares of Medtronic in the 3rd quarter valued at about $45,000. Institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Brett A. Wall sold 12,437 shares of the company’s 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 completion of the sale, the executive vice president now owns 40,979 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MDT has been the subject of several recent research reports. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Barclays boosted their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $98.00 to $105.00 in a research report on Thursday, October 10th. Robert W. Baird dropped their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. dropped 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 equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Medtronic currently has a consensus rating of “Hold” and a consensus price target of $95.00.

Medtronic Stock Performance

MDT opened at $91.51 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The firm has a fifty day moving average price of $83.99 and a 200 day moving average price of $85.83. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08. The stock has a market cap of $117.34 billion, a P/E ratio of 27.98, a P/E/G ratio of 2.49 and a beta of 0.83.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion during 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 firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 earnings per share. Equities research analysts anticipate that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is presently 85.63%.

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.