Brooklyn Investment Group Has $368,000 Stock Position in Medtronic plc (NYSE:MDT)

Brooklyn Investment Group raised its holdings in Medtronic plc (NYSE:MDT) by 46.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,613 shares of the medical technology company’s stock after buying an additional 1,455 shares during the period. Brooklyn Investment Group’s holdings in Medtronic were worth $368,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp raised its holdings in Medtronic by 0.9% during the third quarter. State Street Corp now owns 60,731,367 shares of the medical technology company’s stock worth $5,509,155,000 after acquiring an additional 520,027 shares in the last quarter. Pzena Investment Management LLC grew its stake in shares of Medtronic by 3.3% in the third quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock valued at $772,727,000 after buying an additional 275,870 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Medtronic by 436.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock worth $661,125,000 after buying an additional 5,975,110 shares during the last quarter. Raymond James & Associates raised its position in Medtronic by 2.3% during the third quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock worth $575,460,000 after acquiring an additional 145,504 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Medtronic by 11.5% during the 3rd quarter. Fisher Asset Management LLC now owns 5,893,720 shares of the medical technology company’s stock worth $530,612,000 after purchasing an additional 609,391 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MDT has been the subject of several research analyst reports. Wells Fargo & Company reduced their target price on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Barclays boosted their price objective on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Evercore ISI increased their target price on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Robert W. Baird decreased their price objective on Medtronic from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. dropped their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have assigned 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 has an average rating of “Hold” and a consensus target price of $95.00.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 9,850 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $80.41, for a total value of $792,038.50. Following the transaction, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

Medtronic Stock Performance

Medtronic stock opened at $88.23 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $92.68. The business has a 50 day moving average of $83.63 and a 200-day moving average of $85.03. The company has a market capitalization of $113.13 billion, a P/E ratio of 26.98, a P/E/G ratio of 2.28 and a beta of 0.83.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the business earned $1.25 EPS. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts predict that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a $0.70 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.17%. Medtronic’s dividend payout ratio (DPR) is currently 85.63%.

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.