Moors & Cabot Inc. Has $5.31 Million Holdings in Medtronic plc (NYSE:MDT)

Moors & Cabot Inc. grew its stake in shares of Medtronic plc (NYSE:MDT) by 1.9% in the 4th quarter, HoldingsChannel reports. The fund owned 66,481 shares of the medical technology company’s stock after purchasing an additional 1,220 shares during the quarter. Moors & Cabot Inc.’s holdings in Medtronic were worth $5,310,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of MDT. Copley Financial Group Inc. acquired a new stake in shares of Medtronic in the third quarter valued at approximately $694,000. Franklin Street Advisors Inc. NC raised its position in shares of Medtronic by 32.6% in 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 buying an additional 18,057 shares in the last quarter. Y Intercept Hong Kong Ltd raised its position in shares of Medtronic by 322.6% in 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 buying an additional 56,178 shares in the last quarter. Olstein Capital Management L.P. raised its position in shares of Medtronic by 8.0% in 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 buying an additional 7,000 shares in the last quarter. Finally, Czech National Bank raised its position in shares of Medtronic by 6.4% in the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock valued at $22,212,000 after buying an additional 16,786 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on MDT shares. Robert W. Baird boosted their price objective 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 decreased their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. JPMorgan Chase & Co. reduced their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Finally, UBS Group boosted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Medtronic currently has a consensus rating of “Hold” and an average target price of $96.07.

Insider Transactions at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were 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 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 SEC, which is available through this link. Insiders own 0.20% of the company’s stock.

Medtronic Trading Down 0.4 %

NYSE MDT opened at $93.44 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The company has a market capitalization of $119.85 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The company’s 50-day simple moving average is $88.89 and its two-hundred day simple moving average is $87.88. Medtronic plc has a one year low of $75.96 and a one year high of $96.25.

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

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s payout ratio is presently 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.