Jacobi Capital Management LLC Has $1.48 Million Stake in Medtronic plc (NYSE:MDT)

Jacobi Capital Management LLC decreased its holdings in shares of Medtronic plc (NYSE:MDT) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,565 shares of the medical technology company’s stock after selling 343 shares during the quarter. Jacobi Capital Management LLC’s holdings in Medtronic were worth $1,483,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Copley Financial Group Inc. acquired a new position in Medtronic during the third quarter worth $694,000. Olstein Capital Management L.P. boosted its holdings in Medtronic by 19.2% during the third quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock worth $7,833,000 after purchasing an additional 14,000 shares during the last quarter. Franklin Street Advisors Inc. NC boosted its holdings in 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 worth $5,873,000 after purchasing an additional 18,057 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in 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 worth $6,626,000 after purchasing an additional 56,178 shares during the last quarter. Finally, Czech National Bank boosted its holdings in Medtronic by 6.4% during the fourth quarter. Czech National Bank now owns 278,065 shares of the medical technology company’s stock worth $22,212,000 after purchasing an additional 16,786 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Trading Up 1.4 %

MDT opened at $92.00 on Friday. The company’s 50 day moving average is $87.08 and its 200-day moving average is $87.46. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $93.08. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The company has a market cap of $117.97 billion, a P/E ratio of 27.96, a PEG ratio of 2.22 and a beta of 0.84.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS 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 business had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.33 billion. Equities research analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.04%. Medtronic’s dividend payout ratio is presently 85.11%.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the transaction, the executive vice president now owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MDT has been the topic of several analyst reports. UBS Group upped their price target on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Sanford C. Bernstein upped their price target on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price target on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Barclays upped their price target on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company dropped their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $95.00.

About Medtronic

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.