Strengthening Families & Communities LLC Purchases 1,833 Shares of Medtronic plc (NYSE:MDT)

Strengthening Families & Communities LLC lifted its stake in Medtronic plc (NYSE:MDT) by 8.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,118 shares of the medical technology company’s stock after buying an additional 1,833 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Medtronic were worth $1,847,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MDT. Ritholtz Wealth Management raised its stake in shares of Medtronic by 39.8% in the third quarter. Ritholtz Wealth Management now owns 14,242 shares of the medical technology company’s stock worth $1,282,000 after buying an additional 4,051 shares during the period. Willis Investment Counsel raised its stake in shares of Medtronic by 0.3% in the third quarter. Willis Investment Counsel now owns 351,850 shares of the medical technology company’s stock worth $31,677,000 after buying an additional 990 shares during the period. Woodstock Corp raised its stake in shares of Medtronic by 1.2% in the third quarter. Woodstock Corp now owns 132,093 shares of the medical technology company’s stock worth $11,892,000 after buying an additional 1,506 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Medtronic by 18.5% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 12,179 shares of the medical technology company’s stock worth $1,096,000 after buying an additional 1,903 shares during the period. Finally, Paladin Wealth LLC bought a new position in shares of Medtronic in the third quarter worth about $789,000. Institutional investors own 82.06% of the company’s stock.

Insider Activity

In other news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, the executive vice president now owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Medtronic Price Performance

Shares of Medtronic stock opened at $90.84 on Tuesday. The stock has a market cap of $116.48 billion, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The stock has a 50 day moving average price of $84.85 and a 200-day moving average price of $86.48. Medtronic plc has a one year low of $75.96 and a one year high of $93.08.

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

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MDT shares. Barclays raised their price objective on Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Robert W. Baird dropped their price target on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Monday, November 18th. JPMorgan Chase & Co. cut their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Finally, Wells Fargo & Company cut their price objective 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $95.00.

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.