Kiker Wealth Management LLC Buys Shares of 6,631 Medtronic plc (NYSE:MDT)

Kiker Wealth Management LLC purchased a new position in shares of Medtronic plc (NYSE:MDT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 6,631 shares of the medical technology company’s stock, valued at approximately $530,000.

A number of other hedge funds have also added to or reduced their stakes in MDT. PNC Financial Services Group Inc. raised its holdings in shares of Medtronic by 9.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 574,483 shares of the medical technology company’s stock worth $51,721,000 after buying an additional 51,346 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Medtronic in the third quarter worth about $2,641,000. Portfolio Design Labs LLC bought a new position in shares of Medtronic in the third quarter worth about $238,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic in the 3rd quarter valued at approximately $27,000. Finally, Citizens Financial Group Inc. RI grew its holdings in shares of Medtronic by 31.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 15,873 shares of the medical technology company’s stock valued at $1,439,000 after purchasing an additional 3,805 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

MDT has been the topic of a number of research analyst reports. Barclays raised their target price 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. Robert W. Baird boosted their price objective on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and increased their target price for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $96.07.

Medtronic Stock Down 0.8 %

Shares of NYSE:MDT opened at $91.15 on Friday. The business’s 50-day moving average is $90.47 and its 200-day moving average is $88.06. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The company has a market capitalization of $116.91 billion, a price-to-earnings ratio of 27.71, a P/E/G ratio of 2.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Equities research analysts predict that Medtronic plc will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.07%. Medtronic’s dividend payout ratio is presently 85.11%.

Insiders Place Their Bets

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 completion of the transaction, the executive vice president now directly owns 40,708 shares in the company, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.