Medtronic plc (NYSE:MDT) Shares Acquired by Kovack Advisors Inc.

Kovack Advisors Inc. lifted its holdings in shares of Medtronic plc (NYSE:MDT) by 9.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,550 shares of the medical technology company’s stock after buying an additional 741 shares during the period. Kovack Advisors Inc.’s holdings in Medtronic were worth $683,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MDT. Highline Wealth Partners LLC bought a new position in shares of Medtronic during the third quarter valued at approximately $27,000. Fortitude Family Office LLC acquired a new position in Medtronic during the 3rd quarter valued at approximately $27,000. Darwin Wealth Management LLC bought a new position in Medtronic during the 3rd quarter worth $27,000. Stephens Consulting LLC increased its position in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after buying an additional 204 shares during the period. Finally, J. Stern & Co. LLP bought a new stake in Medtronic in the third quarter valued at $30,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. The trade was a 23.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MDT shares. Wells Fargo & Company lowered 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. UBS Group raised their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Sanford C. Bernstein increased their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Finally, Robert W. Baird lifted their target price on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $95.00.

Medtronic Trading Up 0.1 %

Shares of Medtronic stock opened at $90.67 on Friday. The business has a fifty day simple moving average of $86.86 and a 200-day simple moving average of $87.35. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $93.08. The firm has a market cap of $116.26 billion, a price-to-earnings ratio of 27.56, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84. The company has a quick ratio of 1.39, a current ratio of 1.90 and a debt-to-equity ratio of 0.48.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The company had revenue of $8.29 billion during 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%. On average, equities analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders 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 annualized dividend and a yield of 3.09%. Medtronic’s dividend payout ratio (DPR) is 85.11%.

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.