Medtronic plc (NYSE:MDT) Shares Purchased by Empower Advisory Group LLC

Empower Advisory Group LLC boosted its holdings in Medtronic plc (NYSE:MDT) by 5.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,447 shares of the medical technology company’s stock after acquiring an additional 231 shares during the quarter. Empower Advisory Group LLC’s holdings in Medtronic were worth $355,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MDT. Fortitude Family Office LLC acquired a new position in shares of Medtronic during the 3rd quarter valued at $27,000. Highline Wealth Partners LLC acquired a new position in shares of Medtronic during the 3rd quarter valued at $27,000. Darwin Wealth Management LLC bought a new stake in shares of Medtronic during the 3rd quarter worth $27,000. Stephens Consulting LLC boosted its stake in shares of Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 204 shares in the last quarter. Finally, J. Stern & Co. LLP bought a new stake in shares of Medtronic during the 3rd quarter worth $30,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Price Performance

Shares of NYSE:MDT opened at $87.05 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $93.08. The business has a fifty day simple moving average of $85.82 and a 200 day simple moving average of $87.02. The firm has a market cap of $111.62 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 2.63 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 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.03. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. As a group, sell-side analysts predict that Medtronic plc will post 5.45 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently disclosed 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 of this dividend was Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.22%. Medtronic’s dividend payout ratio is presently 85.63%.

Analysts Set New Price Targets

Several research firms have recently weighed in on MDT. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Wednesday. UBS Group raised their price objective on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday. Robert W. Baird raised their price objective on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday. Sanford C. Bernstein raised their price objective on Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. reduced their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $95.20.

Insider Buying and Selling

In related news, EVP Brett A. Wall sold 12,437 shares of the business’s 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 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 Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is 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.