Buckley Wealth Management LLC Raises Position in Medtronic plc (NYSE:MDT)

Buckley Wealth Management LLC grew its holdings in shares of Medtronic plc (NYSE:MDT) by 2.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 9,945 shares of the medical technology company’s stock after purchasing an additional 262 shares during the period. Buckley Wealth Management LLC’s holdings in Medtronic were worth $794,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Copley Financial Group Inc. purchased a new position in shares of Medtronic during the third quarter valued at approximately $694,000. Franklin Street Advisors Inc. NC lifted its holdings in shares of Medtronic by 32.6% during 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 lifted its holdings in shares of Medtronic by 322.6% during 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. lifted its holdings in shares of Medtronic by 8.0% during 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 lifted its holdings in shares of Medtronic by 6.4% during the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock valued at $22,212,000 after purchasing an additional 16,786 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Up 0.9 %

NYSE:MDT opened at $93.18 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $96.25. The company has a market cap of $119.51 billion, a PE ratio of 28.32, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The company has a 50 day simple moving average of $89.61 and a two-hundred day simple moving average of $87.96.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $8.33 billion. Research analysts forecast that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s payout ratio is 85.11%.

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 completion of the sale, the executive vice president now owns 40,708 shares of the company’s stock, valued at $3,273,330.28. The trade was a 19.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. UBS Group lifted their target price on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Robert W. Baird raised their price target on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Wells Fargo & Company reduced their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Barclays raised their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Finally, Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and raised their price target for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $96.07.

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.