Summit Trail Advisors LLC Has $1.44 Million Holdings in Medtronic plc (NYSE:MDT)

Summit Trail Advisors LLC boosted its holdings in shares of Medtronic plc (NYSE:MDT) by 24.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,894 shares of the medical technology company’s stock after acquiring an additional 3,497 shares during the quarter. Summit Trail Advisors LLC’s holdings in Medtronic were worth $1,442,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC bought a new stake in shares of Medtronic in the 3rd quarter valued at approximately $27,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic in the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC bought a new stake in shares of Medtronic in the 3rd quarter valued at approximately $27,000. J. Stern & Co. LLP bought a new stake in shares of Medtronic in the 3rd quarter valued at approximately $30,000. Finally, Stephens Consulting LLC grew its stake in shares of Medtronic by 145.7% in the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after buying an additional 204 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Up 0.9 %

NYSE:MDT opened at $90.84 on Tuesday. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $93.08. The business’s 50-day moving average price is $84.85 and its two-hundred day moving average price is $86.48. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $116.48 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 2.57 and a beta of 0.84.

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 analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 earnings per share. On average, equities analysts expect that Medtronic plc will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is currently 85.63%.

Analyst Ratings Changes

Several equities research analysts recently commented on MDT shares. Barclays boosted their price target on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a report on Monday, November 18th. Sanford C. Bernstein boosted their target price on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Robert W. Baird reduced their target price on Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Finally, Wells Fargo & Company reduced their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. One investment 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, the company has an average rating of “Hold” and a consensus target price of $95.00.

Insider Transactions at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. This trade represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

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.